Global banking messaging network SWIFT has tested Societe Generale's euro-pegged stablecoin as a part of a collaboration geared toward improving interoperability between traditional financial systems and blockchain-based assets.
SG-Forge, the digital assets subsidiary of Societe Generale, announced on Thursday that it has successfully accomplished the exchange and settlement of tokenized bonds in each fiat and digital currencies.
The collaboration included transactions using SG-Forge's EUR CoinVertible (EURCV) stablecoin, which the bank first launched on Ethereum in 2023.
“This initiative demonstrated that tokenized bonds can leverage existing payment infrastructure, allowing financial institutions and businesses to profit from faster settlements and secure, compliant operations by integrating ISO 20022 standards,” said SG-Forge.
“First MiCA-compliant stablecoin for SWIFT interoperability”
The joint project demonstrated the feasibility of key use cases for market operations, including issuance, delivery-versus-payment processing, coupon payments, and redemption.
As a part of the collaboration, SG-Forge provided its open source standard called Compliance Architecture for Security Tokens (CAST), including its security token and the EURCV stablecoin.
Notably, SG-Forge described its EURCV stablecoin as the primary on-chain settlement asset compliant with the European Markets in Crypto-Assets (MiCA) framework and “natively compatible with Swift’s interoperability capabilities.”
SG-Forge's post on LinkedIn on Thursday. Source: SG Forge
“By proving that Swift can orchestrate cross-platform transactions with tokenized assets, we’re paving the way in which for our customers to adopt digital assets with confidence and at scale,” said Thomas Dugauquier, product lead for tokenized assets at SWIFT, in a joint announcement.
“It’s about bridging existing finance and latest technologies,” he added.
SWIFT is working with 30 banks on a shared blockchain-based ledger
SWIFT had announced plans to “add a blockchain-based ledger to its infrastructure stack” in September 2025.
SG-Forge was one in every of at the least 30 financial institutions worldwide that SWIFT named as a partner for its Ledger project, which focuses on real-time, 24/7 cross-border payments and started with a conceptual prototype developed by Ethereum software company Consensys.
SWIFT's post on LinkedIn in December 2025. Source: SWIFT
SWIFT's upcoming system is predicted to leverage blockchain technology to offer a “secure, real-time log of transactions” shared by financial institutions that records order, validates transactions, and enforces rules through smart contracts.
Cointelegraph reached out to SG-Forge and SWIFT for comment on the particular blockchain networks utilized in the recently accomplished project, but had not received a response on the time of publication.
Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph's editorial guidelines and goals to offer accurate and up-to-date information. Readers are advised to independently confirm the data. Read our editorial policies https://cointelegraph.com/editorial-policy
