Swift Partners with Chainlink to Drive Multi-Bank Digital Asset Settlement Solutions

Swift, in collaboration with BNP Paribas Securities Services, Intesa Sanpaolo, and Société Générale, FORGE, has completed a pioneering digital asset interoperability trial. The initiative demonstrated how Swift can coordinate tokenized asset transactions across multiple platforms.

The trial focused on tokenized bonds, covering delivery-versus-payment settlement, interest payouts, and redemption events. Banks acted as paying agents, custodians, and registrars. The success proves that digital assets can integrate with existing infrastructure, simplifying adoption for financial institutions.

This trial builds on Swift’s broader efforts in digital finance. Previous initiatives included ISO 20022 blockchain interoperability with HSBC, fiat and digital currency settlement with Citi, and digital asset exchange trials with Northern Trust and the Reserve Bank of Australia.

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Swift Advances Tokenized Settlements With Major Banks

Swift also partnered with UBS Asset Management and Chainlink to bridge tokenized assets with traditional payment systems. These steps show a clear direction toward interoperable financial networks that span conventional and emerging technologies.

The trial saw SG-Forge, a blockchain subsidiary of Société Générale, employ digital assets and stablecoins in settling tokenized bonds. Other institutions that took part in this trial were BNP Paribas, acting as the paying agent, and Intesa Sanpaolo, acting as the custodian.

This trial proved that it is possible for tokenized bonds to employ financial messaging infrastructure without losing the benefits that come with blockchain technology.

In this way, financial institutions can move through digital assets without necessarily having extensive knowledge of blockchain technology. By managing multiple platform transactions as a unified process, Swift has managed to simplify the process of settlement and increase scalability in the market through interoperability and standardization of digital financial solutions.

Building a Shared Ledger for the Future

Swift’s trials having concluded, it is set to incorporate a blockchain-based ledger system into its existing architecture. The common ledger should help to achieve real-time and 24/7 cross-border payment capabilities.

This will ensure a safe environment for transactions, ensuring synchronization between the timing and results for all involved parties. The ledger system of Swift is based on its messaging and API platform and is expanding into the digital world. The system will handle both fiat and tokenized assets.

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