Swift completes tokenised asset experiments

finextra.com:

In December, messaging network Swift teamed up with Clearstream, Northern Trust and DLT specialist SETL to investigate how it can back the development of the tokenised asset market, focused on ensuring interoperability, interconnecting market participants, and simplifying their operations by completing activities centrally.The partners carried out a series of experiments on the issuance, delivery versus payment, and redemption processes to support a frictionless and seamless tokenised asset market.Vikesh Patel, head, securities strategy, Swift, says: "Our vision for instant and frictionless transactions not only applies to traditional securities instruments but also to new asset classes as well."SETL worked with Swift and the other participants in experiments involving the integration between the various DLT environments and with transaction orchestrations by using the firm's PORTL suite of products. Marjan Delatinne, head, payments, SETL, says: "We are entering a pivotal moment of history by connecting the dots between Swift and the new tokenized world.