Swift, the global financial messaging network, plans to launch live trials for digital asset and currency trading in 2025.
Banks from North America, Europe, and Asia will participate. quicklyThe platform executes transactions involving both digital assets and traditional currencies.
These trials demonstrate Swift’s orchestration capabilities and move you beyond experimentation to real-world applications.
Swift interlinks various digital asset networks, blockchains, and central bank digital currencies (CBDCs), enabling seamless transactions between traditional and new forms of value.
The exam aims to address the issue of fragmented digital platforms, often referred to as “digital islands,” by connecting them through Swift’s global network.
Key use cases for these trials include payments, foreign exchange (FX), and securities trading.
Swift is focused on integrating both digital and fiat currency platforms into a single system, giving financial institutions a streamlined approach to handling multiple asset types.
This builds on previous experiments in which Swift successfully connected public and private blockchains and linked CBDCs globally.
The scope of these projects includes continued collaboration with the Hong Kong Monetary Authority and Banque de France as part of the European Central Bank’s efforts, focusing on foreign exchange use cases.
Additionally, Swift is exploring integration with emerging bank-led networks such as the U.S. Regulated Payments Network.
The company is also participating project agoraa Bank for International Settlements-led project aimed at integrating tokenized commercial bank deposits and tokenized wholesale CBDCs.
Swift outlined plans to enable a network of more than 11,500 financial institutions to securely support both traditional and digital assets through their existing connections.
This trial aims to bridge the gap between these asset types and demonstrate the infrastructure’s ability to facilitate seamless global transactions.
“As new forms of value emerge, our intent is to expand the ability to seamlessly execute and track transactions for all types of assets using the same secure and resilient infrastructure that is essential to operations today. to continue to provide to the community.”
Tom Zschach, Chief Innovation Officer at Swift, said:
The tokenized asset market is expected to grow significantly, with Standard Chartered and Simpulse forecasting that its size could reach USD 30 trillion by 2034.
A study by Celent and BNY Mellon also shows that 91% of institutional investors are interested in tokenized assets.
Featured image credit: Edited from freepic
