The post SWIFT and Chainlink Unlock Access to Tokenized Assets appeared on BitcoinEthereumNews.com.

Chainlink and SWIFT will power tokenized fund recovery with a new solution. With defined roles from both firms, this solution can remove inefficiencies in the mutual fund market. Building on their existing partnership, Chainlink (LINK) and SWIFT continue to push forward for the global adoption of Real-World Asset (RWA) tokenization. Chainlink, SWIFT, and UBS Asset Management recently highlighted their ongoing tokenization efforts via the Monetary Authority of Singapore’s (MAS) Project Guardian initiative. How Institutions Can Access Tokenized Asset  Specifically, Chainlink, SWIFT, and UBS have unveiled an innovative pilot for settling tokenized fund subscriptions and redemptions. The solution will enable over 11,500 financial institutions across 200 countries to settle digital asset transactions, particularly tokenized funds.  How can 11,500+ institutions across 200+ countries access tokenized assets?@swiftcommunity, @UBS Asset Management, and #Chainlink showcase their major @MAS_sg Project Guardian work around tokenized fund settlement—a solution that is “extremely practical for commercializing” ↓ pic.twitter.com/U0zSp7RwDi — Chainlink (@chainlink) November 7, 2024 This latest advancement uses existing SWIFT infrastructure and Chainlink’s platform to settle fund subscriptions and redemptions. It calculates the preconditions for automatically minting or burning fund tokens for the UBS tokenized investment fund. This technique can improve operations and remove costly inefficiencies across the $63 trillion global mutual fund market. During a panel session, Andrew Wong, Executive Director at UBS Asset Management, noted that SWIFT and Chainlink have facilitated the automatic minting and burning of UBS tokenized fund tokens. He said the integration with SWIFT and Chainlink aims to enhance the payment efficiency of the UBS tokenized investment fund.  In a workflow chart, SWIFT Director Giles Goh explained how SWIFT acts as a transfer bridge for USB’s tokenized fund. He noted that the SWIFT transaction manager will implement a program-scheduled task to retrieve pending subscriptions and redemption from smart contracts.  Chainlink then receives the subscription…

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Filed under: News - @ November 19, 2024 12:15 am