Swift and Société Générale succeed in pilot project for tokenized bond settlement

Société Générale, a major French bank, through its dedicated cryptocurrency division SG-FORGE, has successfully demonstrated the payment of tokenized bonds in collaboration with the global interbank communication system SWIFT. This partnership is a significant example of how existing financial infrastructure and blockchain-based digital asset systems can coexist.

SG-FORGE’s Stablecoin Meets Traditional Payment Networks

The key tool used in this transaction is the EUR CoinVertible (EURCV) stablecoin developed by SG-FORGE. Notably, it is the first MiCA (European Crypto Asset Market Regulation) compliant stablecoin that is fundamentally compatible with SWIFT. As the stablecoin connects directly to the existing global payment network, it opens up new possibilities for the payment ecosystem.

Société Générale played a coordinating role between blockchain platforms and traditional payment systems. This is not merely a technical integration but the construction of a framework where two financial systems can interact seamlessly.

All Core Functions of Tokenized Bonds Operate Successfully

This pilot project implemented all the critical operational processes of the asset tokenization market. From issuance to delivery-versus-payment (DvP), interest payments, and final redemption, every stage was successfully executed.

Particularly noteworthy is the DvP settlement. This mechanism ensures that money and assets move simultaneously in securities transactions, guaranteeing the stability of financial trades. The use of the ISO 20022 standard in tokenized bonds enables faster and more reliable payments.

Bridging Blockchain and Traditional Financial Systems

Thomas Duguet, head of tokenized asset products at SWIFT, commented, “This achievement demonstrates how collaboration and interoperability are shaping the future of capital markets.” He added, “By proving that SWIFT can coordinate multi-platform tokenized asset transactions, it paves the way for clients to adopt digital assets with trust and scale.”

The significance of this collaboration is clear. Blockchain technology and stablecoins are not replacing the existing financial system but are evolving to complement and strengthen it. Tokenized bonds can leverage existing payment infrastructure, enabling financial institutions to operate more efficiently.

Part of a Larger Project Involving Over 30 Global Banks

This pilot is part of a broader digital asset utilization initiative led by SWIFT. In September 2025, SWIFT announced plans to collaborate with over 30 global banks to develop a shared blockchain-based digital ledger.

The initial goal of this ledger is straightforward: to support real-time, 24/7 cross-border payments. Currently, international remittances involve multiple intermediate steps and take time; utilizing tokenized assets and stablecoins can revolutionize this process.

Société Générale’s achievement represents a concrete step toward realizing this larger vision and demonstrates how far the financial industry has advanced on the path of digital innovation.