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SWIAT and now launch SWIAT Access to revolutionize Blockchain integration
SWIAT, a fintech company specializing in blockchain software for decentralized financial market infrastructures, has strengthened its partnership with the IT service provider now. Together, they are unveiling a new product called SWIAT Access, designed to give financial institutions a streamlined entry into the SWIAT blockchain ecosystem. SWIAT Access works similarly to an Internet router, facilitating a simple and secure connection between banks’ IT systems and SWIAT’s blockchain network by leveraging today’s IT expertise.
This launch addresses the growing interest in blockchain technology among financial institutions, which often struggle with insufficient IT capacity for blockchain projects. SWIAT Access eliminates the need for in-house IT resources by providing the technology needed for blockchain access that can be installed in a matter of days. The product aims to serve as an easy gateway to digital assets, tailored to meet the specific needs of financial institutions.
Greater security and flexibility
SWIAT Access operates with or without additional key management software, similar to a crypto custody solution, allowing banks to engage in various blockchain use cases related to regulated digital assets without extensive technology preparation. This flexibility is particularly beneficial for institutions that want to explore blockchain technology without committing substantial resources to building an IT infrastructure from scratch.
The introduction of SWIAT Access highlights the successful collaboration between SWIAT and adesso. Adesso, a strategic partner of SWIAT since autumn 2023, plays a crucial role in this partnership. It acts as one of nine validators in the SWIAT blockchain network, ensuring the validation and correct execution of blockchain function calls. This integration of validators significantly improves the security of the SWIAT ecosystem, which focuses on regulated digital assets, thus strengthening the reliability of its infrastructure for the financial sector and lowering the barriers to entry.
Future growth and market potential
SWIAT’s blockchain-based platform aims to establish a global standard for blockchain-based securities processing. The SWIAT ecosystem is meticulously designed to incorporate capital market, compliance and regulatory requirements from the outset, ensuring security and regulatory compatibility. SWIAT predicts that the importance of digital assets will increase globally in the coming years, with tokenization becoming increasingly widespread.
In Europe, SWIAT predicts that the open decentralized financial market will grow at a compound annual growth rate (CAGR) of more than 60%, potentially reaching more than €3 trillion by 2030. This projection highlights the significant potential and expansion expected of the decentralized financial market. , driven by advances in blockchain technology and the growing adoption of digital assets.
Strategic importance of the partnership
The collaboration between SWIAT and adesso is strategic to address the critical need for accessible and secure blockchain solutions in the financial sector. By providing SWIAT Access, the two companies are not only simplifying blockchain integration for financial institutions, but also improving the overall security and functionality of blockchain operations.
This partnership represents a significant step towards lowering the barriers to entry for financial institutions into the blockchain space. With today’s IT expertise and SWIAT’s innovative blockchain solutions, financial institutions can now more easily and securely participate in the digital asset market, paving the way for broader adoption and integration of blockchain technology into the financial sector.
The introduction of SWIAT Access is a testament to the potential of collaborative innovation in fintech. As the decentralized finance market continues to grow, products like SWIAT Access will play a critical role in bridging the gap between traditional financial systems and emerging blockchain technologies, fostering a more inclusive and efficient financial ecosystem.