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Swift unveils global infrastructure to streamline tokenized asset transfers

Author: Content Editor
Swift, the global messaging network used by banks for transactions, has announced a new initiative to streamline global transactions and allow members to use Swift for both traditional and emerging asset types, including cryptocurrencies. The initiative will focus on real-world assets and aims to address the interoperability issues within the tokenized asset industry. Swift plans to test multi-ledger Delivery-versus-Payment and Payment-versus-Payment transactions, which would enable real-time exchange of tokenized assets on Swift's network. The effort will initially use fiat currencies and later incorporate central bank digital currencies, tokenized commercial bank money, and regulated stablecoins. The goal is to create a single payment infrastructure for tokenized assets that is compatible with the various distributed ledger technologies and regulatory environments used by financial institutions.

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