Swift wants to test tokenization in 2022, Clearstream, Northern Trust and Setl - Blockchain
Swift wants to test tokenization in 2022, Clearstream, Northern Trust and Setl - Blockchain
Swift, the cooperative based in Belgium, which serves as an intermediary and executor of financial transactions between banks worldwide, plans to experiment with the tokenization of assets in 2022. In a blog post on this topic, Swift finds that it will work with companies such as Clearstream, Northern Trust and Setl in order to "examine the feasibility and advantages" of the use of Swift as interconnector to tokensize platforms.
Financial intermediary Swift is to be used as a tokenization interconnector
The Society for Worldwide Interbank Finance Comrunication ( fast) , has been dealing with cryptocurrencies and blockchain technology for some time. For example, swift published a In September 2020, well-known crime for money washing Prefer, in contrast to the use of crypto for illegal transactions. Over a year later, Swift is still concentrating on this technology and announced in a blog post published on December 1st that it took part in an asset tokenization test in 2022 Announcement Conditions:
In cooperation with Clearstream, Northern Trust, Setl and other, Swift plans to examine in the first quarter of 2022 experiments to examine how interoperability in the development of the market for tokenized assets can support.
The report from Swift emphasizes estimates that state that crypto-assets could grow to $ 24 trillion by 2027
The SWIFT report contains many predictions and insights that are scattered throughout research. The organization explains by some estimates , crypto-assets, stable coins and tokenised value In 2027, swell to a volume of around “USD 24 Billion”. Swift understands that tokenized assets can apply to almost everything and can also be fractionated. Essentially, tokenized assets can help strengthen liquidity and enable global access to those who could not otherwise receive this type of asset.
"tokenization", the report from Swift continues. "Can be applied to shares and bonds, but also to illiquid assets, including raw materials, real estate or even art. For example, a share or bond can be divided into digital pieces with a high value per unit (e.g. over $ 500), which have property and value. Investing assets that may not be available in the past. ”
The plans for the first quarter of 2022 include research and use tokenization for traditional assets, securities and other types of market infrastructures. "Setl and Northern Trust and the participants are swift and the participants between the various dlt Transaction orchestrases that use their respective skills. In addition, Vikesh Patel, head of the securities strategy at Swift, emphasized that the company wants to create an immediate and smooth system.
"Our vision for immediate and smooth transactions applies not only to traditional securities instruments, but also to new investment classes," said Patel in a statement. "The knowledge from this exercise with leading capital market participants will help us to define and prioritize the specific steps that are necessary to enable seamless processes for tokenized assets."
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