With Swift messages and CRE, banks and institutions can seamlessly access blockchains through the same Swift infrastructure they have relied upon for decades. This shows how institutions can access blockchains without needing to upgrade to new infrastructure, replace their existing processes, or integrate new identity and key management solutions.
We’re excited to announce a landmark technical solution enabling financial institutions worldwide to manage digital asset workflows directly from their existing systems using Swift (@swiftcommunity) messaging and Chainlink in collaboration with @UBS. With Swift messages and the Chainlink Runtime Environment (CRE), banks and institutions can seamlessly access blockchains through the same Swift infrastructure they have relied upon for decades. The first use case involved UBS Tokenize, the tokenization unit of one of the world’s largest private banks with over $6 trillion in assets under management. Subscriptions and redemptions for a tokenized fund smart contract from UBS were triggered using ISO 20022 messages through CRE and Swift infrastructure. CRE received the Swift messages, which then triggered subscription and redemption workflows in the newly launched Chainlink Digital Transfer Agent (DTA) technical standard. This new plug-and-play solution shows how transfer agents, financial institutions, and other entities can manage tokenized asset workflows onchain without upgrading to new infrastructure, replacing their existing processes, or integrating new identity and key management solutions.
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