Crypto

Chainlink (LINK), UBS Asset Management, Swift Complete Pilot to Bridge Tokenized Funds With TradFi Payment Rails

A recent project completed as part of the Monetary Authority of Singapore’s (MAS) Project Guardian has highlighted the potential for tokenization and blockchain technology to enhance Swift’s infrastructure. The project showcased how Swift’s existing infrastructure can facilitate off-chain cash settlements for tokenized funds, demonstrating the synergy between traditional banking systems and emerging technologies.

Swift is a messaging network that connects over 11,500 financial institutions in more than 200 countries, facilitating secure and reliable communication for international financial transactions. By leveraging tokenization and blockchain, Swift can further streamline its processes and improve efficiency without replacing its core infrastructure.

Tokenization involves converting real-world assets into digital tokens that can be securely stored and transferred on a blockchain. This process can enhance liquidity, reduce settlement times, and increase transparency in financial transactions. By integrating tokenization into its operations, Swift can offer new solutions for its member institutions while maintaining its position as a leading provider of cross-border payment services.

The successful completion of this project demonstrates the potential for collaboration between traditional financial systems and emerging technologies. By embracing innovation and exploring new ways to enhance its services, Swift is positioning itself for continued success in the rapidly evolving financial landscape.

Carmen Brooke Martin

Finance Analyst Hello, my name is Carmen Brooke Martin and I am an expert finance journalist with a master's degree from New York University in Business and Economics. I'm passionate about helping startups spread the word, discover and promote great projects in the crypto and fintech industry. What I am working on is to provide basic cryptocurrency education and benefits to the crypto community through video tutorials and written content. As a business developer, I help crypto projects structure and create a whitepaper that can stir investors' interest, advice on marketing strategies and promotions.

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