Societe Generale’s digital-asset unit SG-FORGE has successfully teamed up with the global financial messaging network SWIFT to demonstrate how tokenized bonds can be issued and settled using a combination of traditional cash and stablecoins, marking a significant step toward integrating blockchain-based securities with mainstream financial infrastructure.
In the pilot project, SG-FORGE’s EUR CoinVertible (EURCV), a euro-denominated, MiCA-compliant stablecoin, was used alongside fiat currency to complete core bond lifecycle operations such as issuance, delivery-versus-payment (DvP) settlement, coupon payments and redemption across both blockchain platforms and SWIFT’s existing payment systems.
SWIFT acted as the interoperability layer between traditional financial systems and blockchain networks, coordinating transactions through its established ISO 20022 messaging standards. The initiative involved institutional roles by major European banks acting as paying agents and custodians, validating that digital assets can be integrated into familiar market processes without replacing existing infrastructure.
SG-FORGE’s stablecoin compatibility with SWIFT’s systems is notable because it demonstrates how regulated digital currencies and blockchain-based securities could coexist with traditional finance, potentially reducing settlement times, operational risk and fragmentation in capital markets. Experts view the project as part of a broader effort by SWIFT and global banks to build a shared digital asset ecosystem, blending legacy rails with emerging technologies.
