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SWIAT (Secure Worldwide Interbank Asset Transfer), established by DekaBank in February 2022, is a software developer for blockchain-based digital financial services platform for regulated financial market players to flexibly issue, trade and settle any type of asset - traditional or digital - on the blockchain. It was determined from the start that the platform would be open to partners to be built as a market consortium, and eventually expanded into an international network. It competes with the likes of the Regulated Liability Network (RLN) and Singapore's Partior (backed by Standard Chartered, JP Morgan and DBS Bank).

"Siemens has issued its second digital bond, a €300 million one year bond using the SWIAT permissioned blockchain. Settlement took just minutes and used Germany's Trigger solution, which triggers a central bank money payment on the TARGET 2 system. Last year Siemens issued a €60 million 'crypto security' bond on the Polygon blockchain which still required two-day settlement. The issuance formed part of the European Central Bank's (ECB) wholesale DLT settlement trials." https://press.siemens.com/global/en/pressrelease/siemens-remains-pioneer-another-digital-bond-successfully-issued-blockchain

The Eurosystem's distributed ledger technology (DLT) settlement trials in digital central bank money was associated with a spike in German tokenization, according to Deka Bank. German digital securities issuance in the second half of 2024 totaled €615 million, compared to a total of €235 million cumulatively in up until then. Cashlink and Smart Registry (Nyala), who tend to use public blockchains (mostly Polygon) , were the most prolific issuers, with almost 90 issues between them in 2024. However, in terms of volume, Deka Bank dominated. Deka Bank hosts its tokenized issuance on the SWIAT platform that uses the permissioned Hyperledger Besu blockchain. https://www.deka.de/site/dekade_deka-gruppe_site/get/params_E-283343169/22365381/Deka%20Digital%20Asset%20Monitor_2024.pdf