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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 infrastructure, has deepened its partnership with the IT service provider adesso. Together, they are unveiling a new product called SWIAT Access, designed to offer financial institutions simplified access to the SWIAT blockchain ecosystem. SWIAT Access functions similarly to an internet router, facilitating a simple and secure connection between banks’ IT systems and the SWIAT blockchain network by leveraging adesso’s IT expertise.
This launch responds to the growing interest in blockchain technology among financial institutions, which often struggle with insufficient IT capabilities for blockchain projects. SWIAT Access eliminates the need for internal IT resources, providing the necessary blockchain access technology that can be installed in just days. The product aims to serve as easy access to digital assets, tailored to meet the specific needs of financial institutions.
Greater security and flexibility
SWIAT Access works with or without additional key management software, similar to a crypto custody solution, allowing banks to engage in a variety of blockchain use cases related to regulated digital assets without extensive technology preparation. This flexibility is particularly beneficial for institutions looking 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 regulatory, compliance and capital market 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 forecasts that the open decentralized finance market will grow at a compound annual growth rate (CAGR) of over 60%, potentially reaching more than €3 trillion by 2030. This projection underscores the significant potential and expected expansion of the decentralized finance market, driven by advances in blockchain technology and the growing adoption of digital assets.
Strategic importance of the partnership
The collaboration between SWIAT and now is strategic to address the critical need for accessible and secure blockchain solutions in the financial sector. By providing SWIAT Access, the two companies not only simplify blockchain integration for financial institutions, but also improve 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.