Chainlink and UBS advance on-chain transformation in the fund industry through Swift

ChainCatcher news, according to CoinDesk, Chainlink has launched a CRE-based technology process that allows banks to interact with on-chain "tokenized funds" via Swift (ISO 20022), completing fund subscriptions and redemptions in a pilot with UBS.

The process is triggered by UBS's existing systems, and after receiving the Swift message, CRE executes on-chain instructions through the Chainlink Digital Transfer Agent. This initiative aims to provide blockchain integration for the global fund industry, which exceeds $100 trillion, and continues the cross-chain interoperability exploration of Singapore's "Project Guardian." Chainlink has also previously conducted a pilot for standardizing corporate action data with 24 global banks, as well as DTCC and Euroclear.