Swift, UBS Asset Management, and Chainlink have completed a pilot for settling tokenized fund subscriptions and redemptions using Swift network.

Chainlink (LINK) reaches out to banks and regulators to test potential solutions for cross-chain communication and settlements using the Swift system.

Chainlink, Swift, and UBS successfully piloted fiat settlement for tokenized funds under MAS Project Guardian. Swift’s infrastructure showcased blockchain integration, enabling seamless off-chain settlements for institutional investors on a platform they are familiar with.

In a key development under the Monetary Authority of Singapore’s (MAS) Project Guardian, Swift, UBS Asset Management and blockchain oracle network Chainlink have completed a pilot for tokenized fund settlement.

A pilot including the use of the Swift network to settle tokenised fund subscriptions and redemptions has been successfully concluded by Chainlink, UBS Asset Management, and Swift. This effort would allow digital asset transactions to be settled with fiat payment systems at a staggering 11,

The global mutual fund market is worth $63t. Swift, UBS Asset Management, and Chainlink have completed a pilot for settling tokenised fund subscriptions and redemptions over Swift’s network, which connects more than 11,