Swift taps into blockchains potential
Summary
Financial messaging system provider Swift said its latest series of experiments have shown its infrastructure can assist with the transfer of value across multiple public and private blockchains. A trial saw the organisation use lits network “and the Chainlink Cross-Chain Interoperability Protocol (CCIP) to create an experimental solution” according to published findings [pdf]. It tested if the Swift network could enable financial institutions to use their existing backend systems to interact with tokenised assets and transact across both public and private blockchain platforms. “Establishing interoperability between existing financial market infrastructure and multiple blockchains will be critical for greater adoption so we were naturally delighted to participate in this experiment with the Swift community," he said. ANZ also participated in a recent Reserve Bank of Australia and the Digital Finance Cooperative Research Centre (DFCRC) pilot project, which is exploring the use cases of CBDCs and how they could be applied across the Australian economy.