The *only* protocol actually using ISO20022 messages with banks in production is Chainlink. Simply making something compliant to someone's standard doesn't mean there is demand for your something.
I can make smoke signals with a campfire and blanket that are "ISO20022 compliant." Will banks use my campfire and blanket?
Banks will not be using volatile crypto tokens for payments. Banks will, however, pay gas fees to use protocols that are useful. None of the typical "ISO20022 coins" offer anything useful to the banks worth paying for.
Chainlink's infrastructure platform that gives them market data, proof of reserves, NAV, connectivity to all chains, orchestration between chains and legacy networks like SWIFT, DTCC, Fedwire, FIX, credit card networks, automated compliance engine, identity solutions, full end to end privacy, and the ability to program custom workflows using all those component, *is* something the banks actually need and will use.
"The first use case involved UBS Tokenize, the tokenization unit of one of the world’s largest private banks with over $6 trillion in assets under management. Subscriptions and redemptions for a tokenized fund smart contract from UBS were triggered using ISO 20022 messages through CRE and Swift infrastructure.
CRE received the Swift messages, which then triggered subscription and redemption workflows in the newly launched Chainlink Digital Transfer Agent (DTA) technical standard."
$XRP $XLM $QNT $ALGO $HBAR
We’re excited to announce that @UBS has successfully completed the world’s first in-production, end-to-end tokenized fund workflow leveraging the Chainlink Digital Transfer Agent (DTA) technical standard.
UBS—one of the world’s largest private banks with over $6 trillion in AUM—worked with its in-house tokenization unit UBS Tokenize and DigiFT to showcase a live, in-production tokenized fund transaction that leverages the Chainlink DTA technical standard to complete the first-ever subscription and redemption request of a tokenized fund.
This development marks a major achievement that builds upon prior work between UBS and Chainlink within the Monetary Authority of Singapore’s Project Guardian initiative and proves how fund operations can be seamlessly automated onchain for increased efficiency and utility gains. In this live transaction, DigiFT functioned as the onchain fund distributor and leveraged the DTA standard to successfully request and process a subscription and redemption order.
This new end-to-end tokenized fund workflow can cover every stage of the fund lifecycle, including order taking, execution, settlement, and data synchronization across all onchain and offchain systems.
The DTA technical standard leverages key Chainlink platform capabilities, including:
• Chainlink Runtime Environment (CRE) for orchestration across onchain environments and existing in-house systems used by financial institutions.
• Cross-Chain Interoperability Protocol (CCIP) for interoperability across any public or private chain.
• Automated Compliance Engine (ACE) for programmable compliance.
• NAVLink for robust pricing inputs required for fund subscriptions and redemptions.
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