Cooperation is planned with such companies as the Depository Trust and Clearing Corporation (DTCC), ANZ, BNP Paribas, BNY Mellon, Citi, Clearstream, Euroclear and Lloyds.
The main purpose of the study is to test the ability of the above-mentioned financial institutions to use SWIFT infrastructure to manage the transfer of tokenized assets through the blockchain. As part of the experiment, Chainlink will test the possibility of connecting financial companies to public and private blockchain networks.
Recall that the news about the cooperation between Swift and Chainlink appeared last year at the Chainlink SmartCon conference. According to Chainlink co-founder Sergey Nazarov, such a partnership is an important step for financial institutions and the crypto industry in general.
Swift representatives also believe that Blockchain technology can significantly reduce costs and simplify settlement processes, thereby attracting more private investment and increasing liquidity.