Chainlink, Swift Advance Blockchain Integration For UBS Tokenized Funds
Synopsis
Chainlink integrated Swift messaging to automate UBS’s tokenized fund subscription and redemption workflows.
Chainlink (LINK) and Swift on Tuesday unveiled a new blockchain pilot with UBS Tokenize, just a day after announcing the completion of the second phase of a blockchain and AI-driven corporate action initiative aimed at streamlining $58 billion in global processing costs.
The latest test used Swift messages and Chainlink’s Runtime Environment (CRE) to trigger on-chain fund subscription and redemption workflows for UBS’s tokenized funds. The setup helped the bank process blockchain transactions directly from its existing Swift-based infrastructure, eliminating the need for new identity or key management systems.
The companies stated that the effort builds on the firms’ previous tokenization trials conducted under Singapore’s Project Guardian in 2024. Chainlink stated that the UBS pilot demonstrates how midstream workflows, such as fund subscriptions and redemptions, can be automated across blockchains using the same infrastructure already in place at major financial institutions.
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