Chainlink has expanded its collaboration with SWIFT to streamline the management of tokenized funds for financial institutions, enabling them to use SWIFT messaging and the Chainlink Runtime Environment (CRE) to handle processes like subscriptions and redemptions without overhauling legacy systems.
The first technical pilot is led by UBS Tokenize, the tokenization arm of UBS, building on prior work under the Monetary Authority of Singapore’s Project Guardian initiative. This setup uses ISO 20022-compliant SWIFT messages to trigger smart contract events in Chainlink’s Digital Transfer Agent (DTA) technical standard, automating workflows for tokenized assets while maintaining existing infrastructure.
Sergey Nazarov, co-founder of Chainlink, emphasized the benefits, stating, “This innovation shows how smart contracts can simplify tokenized asset management,” and added, “This project highlights how institutions can benefit from blockchain without overhauling their current infrastructure.”
Additionally, Chainlink recently announced a separate pilot involving 24 global banks and financial infrastructure providers like DTCC and Euroclear, which uses Chainlink’s tools and AI to extract and standardize data from corporate action announcements, potentially saving the industry an estimated $58 billion annually. This broader effort aligns with enhancing accessibility for the $100 trillion global fund industry through blockchain adoption.
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