Chainlink announced last night that the pilot for tokenized assets, in collaboration with the Global Banking Financial Telecommunications Association (SWIFT) and UBS Asset Management, has achieved initial success; in the future, investors will be able to complete the subscription and redemption of tokenized funds offline through SWIFT's existing cross-border payment system. This service will cover over 200 regions and 11,500 financial institutions that SWIFT cooperates with, allowing retail, institutional, or professional investors globally to easily trade tokenized assets.
Source: X/@chainlink Chainlink, SWIFT, and UBS's tokenization pilot has achieved initial success
The Monetary Authority of Singapore is helping to accelerate the practical application of tokenization!
This pilot is led by UBS Asset Management and SBI Digital Market and is part of the Monetary Authority of Singapore (MAS) Project Guardian. According to previous reports from (Crypto City), SWIFT has jointly developed two tokenized asset transfer frameworks, 'decentralized DvP' and 'decentralized PvP', based on the SWIFT cross-border payment system and Chainlink CCIP, applicable for the delivery of tokenized securities or commodities, and solutions for international remittances (CBDC, stablecoins); the primary goal of the Project Guardian is to further enhance liquidity and settlement efficiency in the financial markets through these two tokenized systems.
Source: X/@chainlink The operation mechanism of SWIFT and Chainlink tokenization framework
Chainlink, SWIFT improve traditional financial efficiency
SWIFT's strategy head Jonathan Ehrenfeld believes that the operation of traditional fund markets often faces the dilemma of inefficient subscription and redemption processes, including manual intervention, settlement delays, and lack of transparency. This tokenization pilot demonstrates the efficiency and operation of decentralized DvP in asset settlement, combining blockchain networks, Chainlink CCIP, and SWIFT cross-border payment systems.
The premise for the global adoption of digital assets is the seamless integration of existing payment systems and digital currencies. The collaboration between Chainlink, UBS Asset Management, and us in the MAS Project Guardian is fully leveraging the combination of the global SWIFT network and digital assets to provide financial institutions with a digital asset trading solution that is secure, scalable, and abstracted.
Chainlink co-founder Sergey Nazarov pointed out that Chainlink allows financial institutions to promote the adoption of digital asset payments through the use of SWIFT infrastructure; he expressed considerable anticipation for this adoption in terms of enhancing capital flow and audience expansion.
The potential for tokenization is limitless, and Visa is also getting involved
Previously, SWIFT announced on the 4th of last month that it would implement a new version of the CBDC and tokenization construction pilot in 2025, allowing financial institutions to conduct cross-chain transactions of digital assets and CBDCs for the first time; coincidentally, card payment giant Visa also announced on the same day that it would launch the Visa Tokenized Asset Platform (VTAP) in 2025, aiming to become a bridge between fiat currencies and blockchain, assisting international banks in issuing and managing tokenized assets based on fiat currency reserves through Ethereum, and facilitating the settlement efficiency of cross-border payments. It is foreseeable that under the competition among various cross-border payment leaders, 2025 will mark the beginning of tokenization, ushering in large-scale adoption of RWA assets such as stablecoins, tokenized fiat currencies, or CBDCs.
Source: LinkedIn/@Visa Visa VTAP settlement mechanism
