SWIFT has trialled a euro-pegged stablecoin in tokenised bond payments as part of efforts to link traditional finance with blockchain systems.
The test was conducted with Societe Generale’s digital asset unit, SG-Forge, using its EUR CoinVertible stablecoin.
SG-Forge said it successfully completed the exchange and settlement of tokenised bonds in both fiat and digital currencies.
The trial involved issuance, delivery-versus-payment settlement, coupon payments, and bond redemption.
EUR CoinVertible was first launched on Ethereum in 2023, according to the bank.
“This initiative showed that tokenised bonds can leverage existing payment infrastructures for faster and compliant settlement,”
SG-Forge said.
SG-Forge described EUR CoinVertible as the first MiCA-compliant onchain settlement asset compatible with SWIFT’s interoperability tools.
“By proving that Swift can orchestrate multi-platform tokenised asset transactions, we’re paving the way for adoption at scale,”
Thomas Dugauquier said.
The collaboration used SG-Forge’s open-source Compliance Architecture for Security Tokens framework.
SWIFT said the project supports its wider plan to integrate blockchain-based ledgers into its infrastructure.
SG-Forge is among more than 30 financial institutions working with SWIFT on shared blockchain payment initiatives.
At the time of reporting, Ethereum price was $3,313.95.