Swift, UBS and Chainlink complete pilot for tokenized fund transactions

Swift, alongside UBS Asset Management and Chainlink, completed a pilot program aimed at settling tokenized fund subscriptions and redemptions through its network, according to an press release on Swift's official website. The initiative explores ways to integrate digital asset transactions with existing fiat payment systems across over 11,500 financial institutions globally. The pilot addressed common inefficiencies in fund operations, such as delayed settlements and limited transparency, demonstrating how blockchain technology could automate subscriptions and redemptions without a universal on-chain payment system.