Key Trial Details:
- Issuer: SG-FORGE provided the tokenized bond and EURCV stablecoin.
- Custodians: BNP Paribas Securities Services and Intesa Sanpaolo acted as paying agents and custodians.
- Scope: Covered the full asset lifecycle, including issuance, settlement, and redemption.
The move comes as Swift shifts focus toward building a blockchain-based shared ledger to further integrate digital assets into the global financial fabric.
Swift has successfully completed a landmark interoperability trial with Societe Generale-FORGE (SG-FORGE), BNP Paribas, and Intesa Sanpaolo, proving that tokenized bonds can be settled seamlessly using both fiat cash and stablecoins.
The trial, announced Thursday, utilized SG-FORGE’s Euro CoinVertible (EURCV) stablecoin to execute Delivery-versus-Payment (DvP) settlements, interest payouts, and bond redemptions. This marks the first time Swift has orchestrated tokenized asset transactions across both blockchain platforms and traditional banking systems as a single, coordinated process.
Bridging “Digital Islands”
The initiative addresses a critical hurdle in institutional crypto adoption: fragmentation. As banks build proprietary permissioned ledgers, the industry risks creating disconnected “digital islands” that trap liquidity.
By leveraging existing ISO 20022 messaging standards, Swift demonstrated it can act as a neutral orchestrator, allowing financial institutions to transact across disparate networks without needing to overhaul their legacy infrastructure.
“This milestone demonstrates how collaboration and interoperability will shape the future of capital markets,” said Thomas Dugauquier, Tokenised Assets Product Lead at Swift.
Source:https://finance.yahoo.com/news/societe-generale-forge-swift-settle-100448090.html