PANews reported on January 15th that, according to a Chainlink announcement, Swift, in conjunction with Chainlink and UBS Asset Management, has completed a key interoperability test with BNP Paribas, Intesa Sanpaolo, and Société Générale , enabling seamless settlement of tokenized assets between traditional payment systems and blockchain platforms. This pilot program covers DvP settlement, interest payments, and redemption processes, marking substantial progress for Swift in unifying and coordinating on-chain and off-chain financial systems.

This initiative focuses on key processes such as DvP settlement, interest payments, and redemption of tokenized bonds, encompassing roles such as payment agents, custodians, and registrars. The project builds on a previous pilot project completed by Swift and Chainlink under the Monetary Authority of Singapore's (MAS) Guardian Program, demonstrating how financial institutions can leverage existing Swift infrastructure to facilitate off-chain cash settlement for tokenized funds.