TLDR:
- SWIFT successfully tests Societe Generale’s EURCV stablecoin to settle tokenized bonds.
- The project demonstrates that institutions can use existing infrastructures for digital assets.
- The EURCV stablecoin is the first on-chain settlement asset to fully comply with MiCA.
The global banking messaging network SWIFT has successfully completed interoperability tests with the EUR CoinVertible (EURCV) stablecoin. Furthermore, it is collaborating with SG-Forge, Societe Generale’s digital asset subsidiary, to connect traditional financial systems with blockchain technology. Thanks to this pilot, it has been demonstrated that it is possible to settle tokenized bonds safely and efficiently.
This collaboration used the ISO 20022 standard to ensure that transactions meet global operational requirements. Developers stated that SWIFT’s interoperability with stablecoins allows digital bonds to leverage existing payment infrastructure within banks. In this way, corporations can access much faster settlements without abandoning current regulatory compliance frameworks.
A Bridge Between Traditional Banking and the Crypto Ecosystem
The project by SWIFT and SG-Forge validated critical processes, such as issuance, coupon payments, and the on-chain redemption of financial assets. It is worth noting that EURCV is positioned as the first stablecoin natively compatible with SWIFT’s interoperability with stablecoins under the MiCA regulatory framework. This legal compliance is essential for financial institutions to adopt digital assets at scale.
Thomas Dugauquier, head of tokenized assets at SWIFT, stated that they are paving the way for massive institutional adoption. In addition to SG-Forge, more than 30 global banks are participating in this ambitious blockchain-based shared ledger project. The final goal of SWIFT’s interoperability with stablecoins is to facilitate seamless, 24/7 cross-border transactions.
In summary, this advancement reduces friction between traditional finance and emerging distributed ledger technologies. By integrating open-source solutions such as the CAST architecture, SWIFT acts as a neutral orchestrator in a multi-platform ecosystem. This move not only strengthens European leadership in crypto-assets but also redefines the standards of global financial infrastructure for the next decade.
