Swift, Together With The Chainlink Platform, Conducted An Experiment On Tokenization

In recent experiments, the Swift payment system and the Web3 service platform Chainlink have successfully conducted a tokenization experiment across multiple private and public blockchains, according to a press release. Swift used the Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to connect to various blockchains. CCIP Chainlink, designed to build cross-chain applications and services, was launched in July.

In June, Chainlink and Swift announced they would partner with dozens of financial institutions to test how they could connect to multiple blockchain networks. BNP Paribas, BNY Mellon, The Depository Trust & Clearing Corporation, Lloyds Banking Group and others have collaborated with Swift on experiments.

Tom Zschach, Chief Innovation Officer at Swift, stated:

For tokenization to reach its potential, institutions will need to be able to seamlessly connect with the whole financial ecosystem. Our experiments have demonstrated clearly that existing secure and trusted Swift infrastructure can provide that central point of connectivity, removing a huge hurdle in the development of tokenization and unlocking its potential.

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