Chainlink, SWIFT and UBS Announce Successful Pilot for Settling Tokenized Asset Transactions on Swift Network
SWIFT, UBS Asset Management and blockchain oracle provider Chainlink (LINK) have joined forces to successfully complete a pilot for settling tokenized transactions on the Swift network. According to a new announcement from Swift, the initiative allows for digital asset transactions to settle off-chain with fiat payment systems all over the world. The aim of the pilot was to address problems in traditional finance operations, including delayed settlements and real-time transparency. It utilized Chainlink and Swift to settle subscriptions and redemptions for tokenized investment vehicles. Says SWIFT head of Strategy Jonathan Ehrenfeld, “For digital assets to be adopted globally, they must seamlessly integrate with both existing payment systems and digital currencies. Our work with UBS Asset Management and Chainlink in MAS’ Project Guardian leverages the global Swift network to bridge digital assets with established systems. This initiative aligns with ...