The U.S. Depository Trust & Clearing Corporation partners with Chainlink to launch the Swift blockchain interoperability project

ChainCatcher News, the Depository Trust & Clearing Corporation (DTCC) has partnered with Chainlink to develop a Swift blockchain interoperability project aimed at enabling the tokenized transfer of traditional financial assets. Swift utilizes Chainlink CCIP on the backend to facilitate cross-chain messaging and token transfers, while DTCC acts as the token issuer and central securities depository (CSD).

Specifically, DTCC mints and issues "BondTokens" that are compatible with Chainlink CCIP and distributes them to the test wallets designated by Swift.