Swift is exploring blockchain interoperability and will collaborate with a dozen financial institutions to test the transfer of tokenized assets

ChainCatcher news, the Society for Worldwide Interbank Financial Telecommunication (Swift) has announced that it is exploring blockchain interoperability to eliminate friction in the settlement of tokenized assets. Swift will collaborate with a dozen major financial institutions and FMIs, including Australia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon, Citigroup, Clearstream, Euroclear, Lloyds Banking Group, SIX Digital Exchange (SDX), and the Depository Trust & Clearing Corporation (DTCC), to test how companies can effectively guide the transfer of tokenized value across a range of public and private blockchains using its existing Swift infrastructure.

The first use case of the trial will involve transferring tokenized assets between two wallets on the same public blockchain network (Ethereum Sepolia testnet).

The second use case involves transferring tokenized assets from a public blockchain (Ethereum) to a permissioned blockchain.

The third use case will test transferring tokenized assets from Ethereum to another public blockchain, where Chainlink will be used as an enterprise abstraction layer to securely connect the Swift network to the Ethereum Sepolia network, while Chainlink's Cross-Chain Interoperability Protocol (CCIP) will enable full interoperability between the source chain and the target blockchain. (Source link)