This Altcoin on the Radar of Turks Announces Swift and UBS Partnership!

Global financial messaging network Swift has launched a groundbreaking pilot program with this altcoin project on the radar of UBS and the Turks.
 This Altcoin on the Radar of Turks Announces Swift and UBS Partnership!
READING NOW This Altcoin on the Radar of Turks Announces Swift and UBS Partnership!

Global financial messaging network Swift has launched a groundbreaking pilot program with UBS and Chainlink. This collaboration, which also includes the altcoin project on the radar of the Turks, aims to realize tokenized fund transactions. Therefore, it is possible that this initiative will change the way of investing in digital assets. Because it will make transactions faster and more efficient. With the global investment fund market worth over $63 trillion, this could be a moment of change for digital finance.

Swift, UBS and altcoin Chainlink: Transformation in fund transactions!

Swift announced that it, together with UBS Asset Management and Chainlink, have completed a pilot for tokenized fund subscriptions and redemptions. This new method allows financial institutions to use Swift’s infrastructure for cash payments of tokenized funds.

As you follow from Kriptokoin.com, the Monetary Authority of Singapore (MAS) previously launched a pilot program. This program aimed to show how financial institutions can benefit from Swift’s existing systems. Thanks to this program, it will now be possible to carry out digital asset transactions quickly and securely with traditional fiat payment systems. This will therefore enable more than 11,500 financial institutions worldwide to manage their transactions efficiently. It will also bring a new level of speed and security to the financial world.

Challenges in traditional fund transactions

Traditional fund operations often face several challenges. The process of subscribing to and using funds can be slow and require manual steps. This causes delays and higher costs. Therefore, this makes money transfer difficult. It also leads to missed opportunities in the $63 trillion global investment fund market. The new pilot program aims to solve these problems by enabling seamless transactions using blockchain technology, altcoin Chainlink’s platform and Swift’s network.

The key role of the altcoin Chainlink

Chainlink’s technology plays a key role in the implementation of this project. Because it helps Swift coordinate transactions between different parties. Thus, it automates the buying and selling of fund tokens. When investors decide to buy or sell tokens, the process happens quickly and efficiently. Additionally, it enables real-time transactions on the Swift network. This makes it easier for investors to manage their assets without worrying about delays or complications. Sergey Nazarov, co-founder of Chainlink, said that he is excited about these new payment methods and believes that they will bring more money to digital assets and make the financial system stronger.

Altcoin price performance

According to analysts, LINK has formed a Head and Shoulders formation on its chart. This is a classic bullish reversal signal. Accordingly, the neckline is positioned between $11.50 and $12.00. According to analysts, this formation indicates that LINK could experience an upside of approximately 40% if it successfully reclaims and maintains its position above the neckline. If Chainlink manages to break above this resistance level, it is possible that it could trigger a price increase to $15.00. At the time of writing, the altcoin is trading at $10.62, down 0.34% on the day.

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