SWIFT announced it will begin trials of tokenised assets and digital currencies next year, as part of efforts to integrate them into the mainstream financial system.
Integration of Digital Assets into the Financial System
Banks and asset managers have been exploring the concept of tokenising traditional assets, such as bonds, to create digital units often based on blockchain tokens. These digital representations are expected to speed up and lower the costs of trading by eliminating intermediaries, although widespread adoption has been slow.
Challenges in Adoption of Tokenised Assets and Digital Currencies
The upcoming SWIFT trial involves testing various types of digital assets across multiple platforms. Nick Kerigan expressed industry demand for transitioning from trials to active trading of digital assets. However, the fragmented digital asset market remains a major challenge.
Flockerz: A Prominent Crypto Presale Featuring a Meme-Based DAO Concept
Flockerz is a standout among crypto presales this year with its innovative approach. The project is based around FlockTopia, a decentralized autonomous organization (DAO) that offers a Vote-to-Earn structure, allowing investors to vote on project developments and earn rewards for participation.
SWIFT's trials and projects like Flockerz illustrate the growing interest and attempts to integrate digital assets into mainstream financial markets.
