Swift collaborates with Chainlink and several European banks to complete a pilot for tokenized asset interoperability
According to a Chainlink announcement, Swift has partnered with Chainlink and UBS Asset Management to complete key interoperability tests with BNP Paribas, Intesa Sanpaolo, and Société Générale, achieving seamless settlement of tokenized assets between traditional payment systems and blockchain platforms.This pilot covers DvP settlement, interest payments, and redemption processes, marking a significant advancement for Swift in unifying on-chain and off-chain financial systems. The initiative focuses on key processes such as DvP settlement, interest payments, and the redemption of tokenized bonds, encompassing roles such as payment agents, custodians, and registrars. The project builds on an earlier pilot completed by Swift and Chainlink under the Monetary Authority of Singapore (MAS) "Guardian Program," demonstrating how financial institutions can leverage existing Swift infrastructure to facilitate off-chain cash settlements for tokenized funds.