In partnership with UBS Asset Management and Chainlink, Swift has completed a pilot program designed to streamline tokenized fund transactions through its established financial network.

Conducted as part of the Monetary Authority of Singapore’s (MAS) Project Guardian, this pilot demonstrates how financial institutions can leverage Swift’s existing infrastructure to manage off-chain cash settlements for tokenized assets.

Swift, Chanlink and UBS Aim to Streamline Fund Operations and Boost Efficiency

Swift, UBS Asset Management, and Chainlink have completed a pilot for settling tokenized fund subscriptions through the Swift network. The initiative addresses inefficiencies in the $63 trillion global mutual fund market by connecting 11,500 institutions to streamline manual processes and cut costly settlement delays that hinder liquidity.

“Chainlink is enabling institutions to reuse Swift’s infrastructure to facilitate payments for digital asset transactions. I am very excited by the upcoming adoption of these off-chain payment capabilities and how they will increase the flow of capital and expand the possible user base of digital assets,” Chainlink co-founder Sergey Nazarov said.

Read more: RWA Tokenization: A Look at Security and Trust

Chainlink and Swift’s pilot bears real potential in demonstrating how financial institutions can streamline these processes in the future. It automates payment processing for tokenized investment funds without requiring a fully blockchain-based system. This approach makes transactions faster and more efficient.

The pilot builds on earlier work between UBS Asset Management and SBI Digital Markets. Their previous collaboration focused on developing a Digital Subscription and Redemption system for tokenized funds.

Using Swift’s established infrastructure, the pilot demonstrated how fund transactions could be settled efficiently by connecting traditional systems with blockchain. Upon meeting specific conditions, UBS’s tokenized investment funds automatically issued or canceled fund tokens for investors.

UBS rolled out a tokenized fund on the Ethereum blockchain on November 1. The “UBS USD Money Market Investment Fund Token,” known as “uMINT,” aims to meet growing demand for tokenized assets. Meanwhile, MAS highlighted its dedication to asset tokenization, drawing insights from 40 institutions and 15 pilot trials.

“Our collaboration with UBS Asset Management and Chainlink under MAS’ Project Guardian uses the Swift network to bridge digital assets with existing systems. This approach supports our goal of helping financial institutions securely transact across various digital asset classes and currencies,” Swift Head of Strategy Jonathan Ehrenfeld commented.

Read more: How To Invest in Real-World Crypto Assets (RWA)?

The pilot highlights the growing momentum toward integrating digital assets with mainstream financial systems, illustrating how established infrastructures like Swift’s can support the fast-evolving digital economy.

Artificial Superintelligence Alliance (FET) is one of the top gainers today, registering a 10% increase within the last 24 hours. This FET recovery contradicts its performance in October, when its price decreased by 13.39%.

Following this rebound, on-chain data shows that the altcoin could be working toward wiping out those losses. Here is how.

Artificial Superintelligence Alliance Sees Buying Pressure  

Yesterday, FET’s price was $1.10. But as of this writing, the altcoin’s value has risen to $1.25. According to the 4-hour chart, FET’s price climbed this high due to rising buying pressure. 

Notably, Bull Bear Power (BBP) has jumped to the positive region after remaining in the red area since November 1. The BBP shows whether the strength of buyers is greater than that of sellers.

When the reading is negative, bears have the upper hand. Therefore, in this instance, bulls are in control. As such, the altcoin’s value could continue to climb if this remains the same. 

Read more: How to Invest in Artificial Intelligence (AI) Cryptocurrencies?

The Money Flow Index (MFI) is another indicator suggesting that the FET recovery could be swift. The MFI, which measures buying and selling pressure by analyzing price and volume data, has shown a positive trend for FET. 

A rising MFI indicates increased buying pressure, which supports the likelihood of continued price growth as demand for the asset strengthens. Therefore, if bulls sustain this momentum, then the altcoin’s price might continue to rise.

FET Price Prediction: Token to Breach Resistance

Since the IOMAP indicates that there is only one significant resistance level for FET at $1.28, where 3,590 addresses hold 616.89 million tokens, it suggests that surpassing this level could open up further upside potential. 

Notably, the IOMAP tool categorizes addresses by whether they are making a profit, breaking even, or incurring losses at the current price

This accumulation zone acts as a key psychological barrier. The volume of tokens accumulated here is notably higher than the amounts held between $1.06 and $1.25, signaling that if buyers manage to push the price beyond $1.28, FET could gain strong momentum.

Read more: Which Are the Best Altcoins To Invest in November 2024?

Therefore, if buying pressure continues to increase, FET could rally all the way to $1.44. However, if bulls fail to breach the resistance, the altcoin price might pull back, and FET could drop to $1.10.

Ethereum (ETH) price is showing signs of weakening strength as polls open across most of the US.

Despite a 24% surge in trading volume over the past 24 hours and a modest 1% price uptick, technical indicators suggest a potential downturn. Here’s a closer look at the factors behind this analysis.

Ethereum to Remain “Under”

Readings from the altcoin’s Super Trend indicator reflect Ethereum’s weak price action. At press time, its red line rests above Ethereum’s price, confirming the potential downward trend.

This indicator helps traders identify the prevailing market trend and potential entry or exit points. It detects changes in price direction and determines support and resistance levels, often signaling when to buy or sell an asset. When the Super Trend line moves above the price and turns red, it signals a bearish trend, often considered a sell signal.

On the ETH/USD one-day chart, Ethereum’s Super Trend line is above the coin’s price at $2740, forming a resistance level that may be difficult to breach if new demand fails to enter the market. When the Super Trend line moves above the price, it acts as a resistance level. This is because the line indicates a potential “ceiling” where the price might face resistance if it attempts to rise. 

Read more: Ethereum ETF Explained: What It Is and How It Works

Moreover, the setup of ETH’s moving average convergence/divergence (MACD) indicator — which tracks its trend direction, shifts, and potential price reversal points — supports this bearish outlook. As of this writing, ETH’s MACD line (blue) rests below its signal line (orange) and zero line. 

This bearish signal suggests that ETH’s short-term momentum is weakening. Traders often interpret this as a signal to exit long positions and take short ones.

ETH Price Prediction: August 5 Low Is Possible

If buying pressure weakens, Ethereum’s price could fall toward its August 5 low of $2,112, marking a 13% drop from its current value. Conversely, a surge in demand could propel the coin to test resistance at $2,508.

Read more: Ethereum (ETH) Price Prediction 2024/2025/2030

A successful breakthrough at this level would set the next target at the Super Trend line resistance of $2,740. Clearing this mark with strong momentum could position Ethereum for a climb toward $2,869 — a level not seen since August.