SWIFT Tests Societe Generale’s Euro-Pegged Stablecoin for Tokenized Bonds
Global banking messaging network SWIFT has successfully tested Societe Generale’s euro-pegged stablecoin, EUR CoinVertible (EURCV), as part of a collaboration aimed at improving interoperability between traditional financial systems and blockchain-based assets. This initiative is a significant step forward in the development of digital assets and their integration with existing financial infrastructure.
SG-Forge, the digital assets subsidiary of Societe Generale, announced on Thursday that it has completed the exchange and settlement of tokenized bonds in both fiat and digital currencies. The collaboration included transactions using the EURCV stablecoin, which was first launched on Ethereum in 2023. According to SG-Forge, this project demonstrated that tokenized bonds can leverage existing payment infrastructure, allowing financial institutions and businesses to benefit from faster settlements and secure, compliant operations by integrating ISO 20022 standards.
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 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 first 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
Thomas Dugauquier, product lead for tokenized assets at SWIFT, stated, “By proving that Swift can orchestrate cross-platform transactions with tokenized assets, we are paving the way for our customers to adopt digital assets with confidence and at scale.” He added, “It’s about bridging existing finance and new technologies.”
SWIFT’s Blockchain-Based Ledger Project
SWIFT had announced plans to “add a blockchain-based ledger to its infrastructure stack” in September 2025. SG-Forge was one of at 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 began 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 expected to leverage blockchain technology to provide 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 specific blockchain networks used in the recently completed project, but had not received a response at the time of publication.
For more information on this development, visit the original article on Cointelegraph.
