Aug 31, 2023

Thursday, 31/08/2023 | 15:59 GMT SWIFT earlier said its solution could connect over 100 CBDCs currently in development. SWIFT After yearsof conducting experiments, SWIFT, the world’s leading provider of securefinancial messaging services, today (Thursday) announced that itsinfrastructure can “seamlessly” facilitate the transfer oftokenised assets acrossmultiple public and private blockchains. The member-owned cooperativeconducted the trials inpartnership with over a dozen global financial institutions, including theAustralia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon,Citi, and Clearstream. Becoming A “SinglePoint of Entry” for Multiple Networks In 2021,SWIFT unveiled plans to explore how it can supportinteroperability in the developing tokenized asset market, Finance Magnates reported. Tokenized assetsdescribe digital assets that represent ownership of an underlying asset such asa financial instrument. Security, utility and non-fungibletokens are examples of such assets. Themajority of institutional investors believe that tokenized assets hold thepower to revolutionise the asset management industry. However, because theseassets are managed on different blockchains, managinginteroperability became a major operational challenge. However,SWIFT believes that its infrastructure could be the way out. In a report released today, the financialmessaging services provider noted that its solution has the potential to removethe major obstacles hindering the expansion of tokenized asset markets,allowing them to grow and scale worldwide as they continueto evolve. Keep Reading CQG Trader platform retires; Twitter to collect biometric data; read today's news nuggets . After yearsof conducting experiments, SWIFT, the world’s leading provider of securefinancial messaging services, today (Thursday) announced that itsinfrastructure can “seamlessly” facilitate the transfer oftokenised assets acrossmultiple public and private blockchains. The member-owned cooperativeconducted the trials inpartnership with over a dozen global financial institutions, including theAustralia and New Zealand Banking Group Limited (ANZ), BNP Paribas, BNY Mellon,Citi, and Clearstream. Becoming A “SinglePoint of Entry” for Multiple Networks In 2021,SWIFT unveiled plans to explore how it can supportinteroperability in the developing tokenized asset market, Finance Magnates reported. Tokenized assetsdescribe digital assets that represent ownership of an underlying asset such asa financial instrument. Security, utility and non-fungibletokens are examples of such assets. Themajority of institutional investors believe that tokenized assets hold thepower to revolutionise the asset management industry. However, because theseassets are managed on different blockchains, managinginteroperability became a major operational challenge. However,SWIFT believes that its infrastructure could be the way out. In a report released today, the financialmessaging services provider noted that its solution has the potential to removethe major obstacles hindering the expansion of tokenized asset markets,allowing them to grow and scale worldwide as they continueto evolve. Keep Reading