Swift has announced the successful completion of an experiment involving tokenization using the Cross-Chain Interoperability Protocol (CCIP) from Chainlink. In collaboration with various financial institutions such as Citi, SIX Digital Exchange (SDX), BNP Paribas, and BNY Mellon, Swift conducted tests to ensure interoperability between blockchains.
Swift's goal is to provide secure global interoperability as new technologies and platforms emerge. These experiments build upon their previous efforts to demonstrate how Swift's infrastructure can support the integration of central bank digital currencies (CBDCs) and other digital assets into both existing and new payment systems.
The collaboration between Chainlink and Swift to explore integration with various blockchain networks was announced in June. Tom Zschach, Chief Innovation Officer of Swift, emphasized the importance of interoperability in their efforts to facilitate smooth global value transfers in the face of increasing fragmentation. These experiments have confirmed that Swift's existing infrastructure can serve as a central connection point, eliminating a significant obstacle to the development of tokenization.
Chainlink introduced CCIP in July with the aim of establishing it as the leading standard for cross-chain interoperability, as stated by Sergey Nazarov, co-founder and acting CEO of the Oracle provider.