Banks’ SWIFT Messaging System to Experiment With Tokenized Assets in Early 2022

Posted on by American Coins & Gold

Banks’ SWIFT Messaging System to Experiment With Tokenized Assets in Early 2022
Global interbank messaging network SWIFT plans to explore how it can support interoperability in the tokenized asset market.SWIFT is planning a series of experiments in the first quarter around improving the exchange of information between the participants and systems that interact during the lifecycle of tokenized assets, according to a Tuesday announcement.The experiments will use central bank digital currencies (CBDCs) as well as established forms of payment.The organization, which links more than 11,000 institutions, aims to support the issuance, delivery-versus-payment and redemption processes, demonstrating how it could support “a frictionless and seamless tokenized digital asset market.”Following the example of the…