Swift announced a new initiative on Sept. 11 to streamline global transactions and enable its members to use their Swift connection for transactions involving both traditional and emerging asset types, such as crypto.
Swift plans to test multi-ledger Delivery-versus-Payment (DvP) and Payment-versus-Payment (PvP) transactions on its global platform. This could allow securities buyers to simultaneously pay for and exchange tokenized assets in real-time on Swift’s network.
The new initiative will focus heavily on the global trading of real-world assets (RWA), as the industry is expected to reach a $30 trillion market cap by 2034.
Swift said that the global tokenized asset industry has an interoperability issue, which turns different RWA efforts into digital islands. This is primarily caused by the lack of a globally accepted digital form of money.
