Swift collaborates with Chainlink and several European banks to complete a tokenized asset interoperability pilot
PANews January 15th news, according to a Chainlink announcement, Swift has partnered with Chainlink and UBS Asset Management, along with BNP Paribas, Intesa Sanpaolo, and Société Générale to complete a key interoperability test, achieving seamless settlement of tokenized assets between traditional payment systems and blockchain platforms. This pilot covered DvP settlement, interest payments, and redemption processes, marking substantial progress for Swift in unifying and coordinating on-chain and off-chain financial systems.
This initiative focuses on key processes such as DvP settlement, interest payments, and redemption of tokenized bonds, involving roles such as paying agents, custodians, and registrars. The project builds on a previous pilot jointly conducted by Swift and Chainlink under the Monetary Authority of Singapore (MAS) "Project Guardian," demonstrating how financial institutions can leverage existing Swift infrastructure to facilitate off-chain cash settlement for tokenized funds.
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