Under the Monetary Authority of Singapore’s Project Guardian, Swift, UBS Asset Management, and Chainlink have successfully conducted a pilot for tokenized fund settlement. Leveraging Swift’s extensive financial messaging network, the initiative integrates tokenized fund processes with traditional fiat payment systems. Unlike other projects, this pilot allows transactions without relying solely on blockchain payments, enhancing digital finance through existing infrastructure. The collaboration aligns with Chainlink's co-founder Sergey Nazarov's recent remarks at the Swift-organized Sibos conference, emphasizing blockchain integration with Swift. The pilot addresses challenges in traditional fund transactions, such as manual steps and delayed settlements, by enabling real-time fund redemptions and subscriptions. This automated process reduces operational costs and enhances liquidity. The pilot demonstrates the potential of blockchain technology in payment processing without requiring widespread adoption of on-chain payments, fostering capital flow and advancing tokenization efforts in the financial sector. Read more AI-generated news on: https://app.chaingpt.org/news