Demonstrate transparent settlement of tokenized bonds
In this trial, we worked closely with SG-Forge, the blockchain specialist subsidiary of Société Générale, leveraging their digital asset and stablecoin EURCV to enable DvP settlement of tokenized bonds using both fiat and stablecoins, as well as supporting key lifecycle events such as interest payment and redemption.
During the trial, BNP Paribas Securities Services and Intesa Sanpaolo both acted as paying agents and custodians for the tokenized bond transactions. By successfully completing all settlement flows through Swift, the trial proved that tokenized bonds can leverage existing infrastructure – protecting financial institutions from the complexity of blockchain and accelerating market adoption of digital assets.
This initiative also showcased the integration of ISO 20022 messaging standards with native blockchain platforms, facilitating secure and compliant workflows for tokenized bonds.
“This milestone demonstrates how collaboration and interoperability will shape the future of capital markets. By proving that Swift can orchestrate cross-platform tokenized asset transactions, we are paving the way for our members to adopt digital assets with confidence and at scale. This is about creating a bridge between traditional finance and emerging technologies,” said Thomas Dugauquier, Product Manager of Tokenized Assets at Swift.
