Project participants will study the role of the international system in regulating an adequate market for tokenized assets.
The SWIFT interbank payment information transfer system has announced plans to test the use of tokenized assets.
- As part of the project, the organization will study how it can maintain interaction between participants in the tokenized asset market, according to the press release.
- SWIFT plans to conduct some experiments in Q1 2022. The test will use traditional forms of payment as well as central bank digital currencies (CBDC).
- The organization will partner with European clearstream house Clearstream, American financier Northern Trust, blockchain firm SETL and other industry participants Clearstream and Northern Trust will provide a significant part of the tokenized and traditional asset ecosystem, including securities market infrastructure and custodians of various tiers. SETL and Northern Trust will support project participants and help manage transactions.
- The aim of the project is to explore the possibility of providing a “smooth marketplace for tokenized digital assets”.
Traditional financial institutions started issuing tokenized assets this year. For example, in June, Goldman Sachs sold its first tokenized US Treasury bond under a REPO on the Ethereum network. Switzerland legalized tokenized securities in early February.
According to a study by Digital & Data, Securities Services Singapore, the digital asset market could reach $24 trillion by 2027.
We will remind, today the leader of the party “Fair Russia – For Truth”, the head of the Socialist-Revolutionary Sergei Mironov said that cryptocurrencies will help Russia to do without the SWIFT payment system.