Successful Swift Pilot: Tokenized Transactions with Chainlink and UBS

user avatar

by Giorgi Kostiuk

2 years ago

Swift has completed an innovative pilot program with UBS Asset Management and Chainlink, aimed at streamlining tokenized asset transactions and integrating them with traditional fiat systems.

Objective of the Swift, UBS, and Chainlink Pilot Program

The pilot aimed to test the feasibility of conducting tokenized fund transactions on Swift's extensive network. Key objectives included improving settlement times, increasing transaction transparency, and demonstrating blockchain's compatibility with fiat systems.

Addressing Inefficiencies in Fund Transactions

Traditional fund operations suffer from settlement delays and limited transparency. The pilot showed how blockchain can reduce delays and automate processes, enhancing the transparency of operations.

Role of Chainlink in Enabling Decentralized Connectivity

Chainlink played a critical role in connecting on-chain and off-chain systems. Chainlink's technology enabled the integration of tokenized assets with fiat institutions, ensuring security and cross-platform compatibility.

The completion of the pilot underscores blockchain's potential to enhance the efficiency of financial operations, complementing rather than replacing existing fiat systems. This pilot may encourage further blockchain adoption in the financial industry.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Dolphin Token Listed on Upbit with Three Trading Pairs

Dolphin (POD) has been officially listed on Upbit, one of South Korea's leading cryptocurrency exchanges, with three trading pairs: KRW, BTC, and USDT.

user avatarNguyen Van Long

Optimism Releases Opnode Update to Enhance Sequencer Performance

Optimism has launched a new opnode update aimed at improving the performance of sequencers and preventing configuration errors from causing upgrade issues.

user avatarTando Nkube

Optimism Releases Maintenance Update v250 for Opreth

Optimism has released Opreth version 250, a maintenance update that removes legacy commands and includes important security patches.

user avatarKofi Adjeman

Optimism Releases Maintenance Update for Rust-based Faultproof Stack

Optimism has announced a substantial maintenance release for its Rust-based faultproof stack, known as Kona host v180, which was published on October 1. This update is recommended for all chains and focuses on ensuring that two pieces of verification software derive the same answers from the same chain data.

user avatarRajesh Kumar

Polymath and CineCity Studios Launch Tokenized Film Investment Initiative

Polymath and CineCity Studios announced a collaboration to explore a tokenized film investment platform aimed at connecting independent film productions with investors through regulated digital securities.

user avatarSatoshi Nakamura

WISeKey's New Ticker WQEY Set to Begin Trading

WISeKey's ordinary shares will start trading under the new ticker WQEY on October 5, reflecting the company's new corporate structure following the merger.

user avatarJesper Sørensen

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.