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In partnership with UBS Asset Management and Chainlink, Swift has completed a pilot program designed to streamline tokenized fund transactions through its established financial network.
The pilot was run as part of the Monetary Authority of Singapore's Project Guardian.
Chainlink (LINK) reaches out to banks and regulators to test potential solutions for cross-chain communication and settlements using the Swift system.
ChainLink (LINK), a leading decentralized Oracle network, is evolving with a recent tokenization partnership with SWIFT and UBS Asset Management. The integration has fueled positive sentiment across the ecosystem, with LINK's price experiencing a bullish rebound.
Swift, the global bank messaging network, announced on Nov. 5 that it has concluded a pilot program to streamline tokenized fund settlement and redemption using fiat currency on its network in collaboration with UBS Asset Management and Chainlink.
In collaboration with UBS Asset Management and Chainlink, Swift has concluded a pilot program aimed at simplifying tokenized fund transactions using its existing financial network.
Swift, UBS, and Chainlink advance tokenized asset integration, enabling fiat settlement of digital fund transactions for global adoption. The post Swift, Chainlink and UBS pilot brings tokenized assets to traditional finance systems appeared first on Crypto Briefing.
From the MAS Guardian Project to accessible and integrated digital finance
The Chainlink ecosystem has grown in the past few years backed by reputable Web3 companies and financial institutions seeking to offer scalable smart contracts.
Recently, in a pilot program, Swift, along with UBS Asset Management and Chainlink , showed a new way to settle tokenized fund transactions, aiming for greater market efficiency and liquidity. Through the Monetary Authority of Singapore's Project Guardian, a global group uniting industry leaders and policymakers, the pilot tested Swift's infrastructure to allow off-chain cash
TL;DR Swift, UBS Asset Management, and Chainlink completed a successful pilot to process tokenized fund transactions using traditional payment infrastructure. The initiative, part of the Monetary Authority of Singapore's Project Guardian, connects over 11,500 financial institutions through Swift.
Global financial messaging network, Swift, UBS Asset Management, and Chainlink have launched a groundbreaking pilot program to settle tokenized fund transactions. This initiative could change the way we invest in digital assets, making transactions faster and more efficient.
Swift, UBS and Chainlink aim to modernize traditional finance by enhancing tokenized fund processes with blockchain.
UBS Asset Management, Swift and Chainlink have completed a pilot project allowing the settlement of tokenized fund subscriptions and redemptions using the Swift network. The post Swift, UBS, and Chainlink Complete Pilot for Settling Tokenized Funds appeared first on Cryptonews.
Chainlink price on the weekly timeframe just broke below a crucial support level, risking a 45% crash. This decline follows the asset hitting a 50-month low against Bitcoin (BTC).
Chainlink (LINK) is showing promising signs of a substantial rally. Recent movements indicate that the asset is breaking free from a long-standing resistance trendline associated with a falling channel pattern.
The market sentiment across the cryptocurrency landscape is quite bearish. Amid this, Chainlink (LINK) turns bearish and is poised for a notable price decline but is currently at a strong support level. This negative outlook may be due to LINK's recent price action and traders' bets over the last 24 hours.
Major news from Chainlink is driving bullish momentum for LINK, triggering an influx of $500M in trading volume and sparking a surge in its price. This comes as the crypto markets adopt a bullish stance ahead of the US Election, with Bitcoin trading above $70,000 as anticipation builds for the presidential race outcome.
Bitcoin (BTC) slipped below $70,000 as markets turned bearish after the world's premier cryptocurrency briefly teased a new all-time high earlier in the week. BTC is currently down over 4% and is trading around $69,300.
TRON announced a major partnership with Chainlink, adding to the growing list of ecosystems integrating the Oracle network's data feeds, among other services.
How is Tron strengthening its rapidly-expanding $7 billion decentralized finance economy with Chainlink's assistance?
Pyth Network's momentum showcases its potential to challenge established Oracle providers significantly.
Ever since the launch of the Bitcoin ETF, the institutions have been accumulating the token heavily. As the price is ascending towards the ATH, these activities have been intensifying, and as a result, the total ETFs held by them have now surpassed the Bitcoins held by Satoshi Nakamoto.
