Swift, Chainlink, and several European banks have completed pilot projects for token asset interoperability

Chainlink announced that Swift, in collaboration with Chainlink, has completed key interoperability tests for tokenized assets with UBS Asset Management, BNP Paribas, Intesa Sanpaolo Bank, and Societe Generale, achieving seamless settlement between traditional payment systems and blockchain platforms. The pilot covers DvP settlement, interest payment, and tokenized bond redemption processes, involving roles such as payment agents, custodians, and registration agencies. This project is based on the collaboration between Swift and Chainlink under the "Guardian Program" of the Monetary Authority of Singapore, showcasing how financial institutions can utilize existing Swift infrastructure to complete off chain cash settlements.