According to CoinDesk, interbank messaging system Swift and Web3 services platform Chainlink have successfully transferred tokenized value across multiple private and public blockchains in recent experiments. The findings have the potential to remove significant friction slowing the growth of tokenized asset markets and enable them to scale globally as they mature. In June, Chainlink and Swift announced that they would be collaborating with dozens of financial institutions to test how they can connect with multiple blockchain networks. BNP Paribas, BNY Mellon, The Depository Trust & Clearing Corporation, and Lloyds Banking Group were among those who collaborated with Swift on the experiments. Financial institutions worldwide are increasingly experimenting with asset tokenization with the goal of improving financial markets. A recent report from the Hong Kong Monetary Authority said tokenization could help improve efficiency and transparency in bond markets. Tom Zschach, chief innovation officer at Swift, said in a press statement that for tokenization to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem. Swift used Chainlink's Cross-Chain Interoperability Protocol (CCIP) to connect with different blockchains. Chainlink’s CCIP, which is designed to help build cross-chain applications and services, went live in July.