Swift, UBS Asset Management, and Chainlink have successfully completed an innovative pilot project to integrate token assets into traditional payment systems

According to official sources, the pilot project jointly launched by Swift, UBS Asset Management, and Chainlink has successfully concluded. The project uses the Swift network to settle subscription and redemption operations for token funds. This pilot project covers over 11500 financial institutions and more than 200 countries and regions, using fiat payment systems for digital asset transactions settlement. This pilot demonstrates how financial institutions can use blockchain technology, Chainlink platform, and Swift network to settle subscription and redemption operations for tokenized investment funds, without having to put the entire payment process on the chain, to achieve a direct payment experience. Therefore, the entire process of fund subscription and redemption can be automated. This pilot is based on cooperation with UBS Asset Management and SBI Digital Markets, and has developed a digital subscription and redemption system for token funds. In addition, the pilot is also part of the Monetary Authority of Singapore's Project Guardian program. The pilot adopted Swift's existing payment system to implement end-to-end payment functionality for the settlement process of fund subscription and redemption. The new pilot jointly launched with the Chainlink platform enables smooth interaction among various stakeholders. Therefore, UBS' tokenized investment funds can automatically mint or destroy fund tokens for investors.