- Swift and Chainlink partner to transfer tokenized assets securely across multiple blockchains and existing financial networks, streamlining global settlements.
- Major banks like Euroclear, Citi, and BNY Mellon participated in successful tests, validating cross-chain settlement and asset servicing processes.
Swift and Chainlink are working to integrate traditional finance with blockchain technology, aiming to bridge two worlds that have historically operated in silos. In a series of live tests with major banks and market infrastructure providers, both firms have demonstrated how tokenized assets can be transferred not only within a single blockchain but also across different blockchains and between private and public networks.
In 2023, Swift partnered with Chainlink and over a dozen large financial institutions, including Euroclear, Clearstream, Citi, BNY Mellon, and BNP Paribas. The goal was to show that tokenized assets—digital representations of securities or funds—can move securely and efficiently across multiple systems using Chainlink’s interoperability protocol and Swift’s established messaging standards. By keeping existing backend systems unchanged, institutions managed to simulate cross-chain settlements and asset servicing in real time, a step toward broader adoption.
A year later, Swift, Chainlink, and Euroclear collaborated on a corporate actions initiative, focusing on the processing and distribution of data about mergers, dividends, and other corporate events.
This initiative brought together banks and asset managers, including UBS and Franklin Templeton, to standardize onchain records of these events. Chainlink’s oracle network and Swift’s messaging allowed data consumers to access the information through familiar channels, reducing friction for traditional finance players.
In another 2024 project led by the Monetary Authority of Singapore, Swift and Chainlink worked with UBS Asset Management to settle tokenized fund transactions using conventional payment rails. Chainlink handled the blockchain interactions, while Swift managed fiat payment instructions, showing how offchain cash settlement and onchain asset transfers can work in sync.
Most recently, at Sibos 2024, Chainlink introduced a solution enabling banks to interact directly with blockchains through Swift’s messaging infrastructure. This model is intended to lower technical barriers, letting financial institutions add tokenized assets to their operations without overhauling their technology. Together, Swift and Chainlink are building pathways for established finance to move toward blockchain adoption, using existing standards as the foundation.
Chainlink (LINK) is trading at $21.51, down 0.76% in the past 24 hours. Over the last week, LINK has dropped 6.19%, and in the past month it is down 8.06%. Still, the token has gained 53.43% over six months and 66.36% year-over-year, with a market capitalization of $14.61 billion and a daily trading volume of $578.8 million.
If LINK holds above $20.50, the price could attempt a rebound toward $23–$25 in the near term. A breakdown below $20 would likely drag the token to $18–$19, where demand could reappear.
