Swift, UBS Asset Management, And Chainlink Conclude Successful Pilot Project

According to PANews, a collaborative pilot project involving Swift, UBS Asset Management, and Chainlink has successfully concluded. The initiative utilized the Swift network to facilitate the settlement of subscription and redemption operations for tokenized funds. This pilot encompassed over 11,500 financial institutions across more than 200 countries and regions, employing fiat currency payment systems for digital asset transaction settlements. The project demonstrated how financial institutions can leverage blockchain technology, the Chainlink platform, and the Swift network to automate the settlement process for tokenized investment funds without requiring the entire payment process to be on-chain, thus enabling a seamless payment experience. The pilot was built on a partnership with UBS Asset Management and SBI Digital Markets, developing a digital subscription and redemption system for tokenized funds. Additionally, this pilot was part of the Monetary Authority of Singapore's Project Guardian. By utilizing Swift's existing payment system, the pilot achieved end-to-end payment functionality for fund subscription and redemption settlements. The new pilot, conducted in collaboration with the Chainlink platform, facilitated smooth interactions among all involved parties. Consequently, UBS's tokenized investment funds can automatically mint or burn fund tokens for investors.