Swift, UBS Asset Management and Chainlink Successfully Complete Innovative Pilot Program

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 for tokenized fund settlement, subscription, and redemption operations. The pilot project covers more than 11,500 financial institutions in over 200 countries and regions, using fiat payment systems for digital asset trading settlements. This pilot demonstrates how financial institutions can use blockchain technology, the Chainlink platform, and the Swift network for tokenized investment fund settlement, subscription, and redemption operations, without having to put the entire payment process on the chain, thus achieving a direct payment experience. Therefore, the entire process of fund subscription and redemption can be automated.

This pilot is built on the basis of cooperation with UBS Asset Management and SBI Digital Markets, developing a digital subscription and redemption system for tokenized funds. In addition, this pilot is also part of the Monetary Authority of Singapore's Project Guardian. The pilot uses Swift's existing payment system to achieve end-to-end payment functionality for fund subscription and redemption settlement processes. The new pilot project jointly launched with the Chainlink platform allows for smooth interaction between all relevant parties. Therefore, UBS's tokenized investment fund can automatically mint or burn fund tokens for investors.