A new partnership between Swift, UBS Asset Management, and Chainlink aims to reshape the future of fund operations. By leveraging blockchain technology, the trio successfully piloted a solution streamlining tokenized fund subscriptions and redemptions. This innovation, built on the backbone of the Swift network, promises to revolutionize the $63 trillion global mutual fund market. Swift, UBS Asset Management, and Chainlink aim to change the fund operations environment by successfully piloting a blockchain-based solution for tokenized fund settlements. This initiative leverages the Swift network to integrate digital assets with traditional fiat payment systems seamlessly. The pilot addresses long-standing inefficiencies by automating subscription and redemption processes, unlocking new opportunities in the $63 trillion global mutual fund market. Jonathan Ehrenfeld, Head of Strategy, Swift, said, “Our work with UBS Asset Management and Chainlink in MAS’ Project Guardian leverages the global Swift network to bridge digital assets with established systems.” The pilot demonstrated how financial institutions can use blockchain, Chainlink, and Swift to automate and settle tokenized fund subscriptions and redemptions. It may also help enable straight-through payment processing without requiring full on-chain adoption.

Full report : Swift, UBS, Chainlink Successfully Test Blockchain in $63T Fund Market.