SWIFT has successfully concluded a digital assets interoperability trial in collaboration with BNP Paribas Securities Services, Intesa Sanpaolo, and Société Générale’s SG Forge. The trial facilitated the seamless exchange and settlement of tokenized bonds, supporting payments in both fiat and digital currencies.
According to a news release dated January 15, this initiative marks the first instance where SWIFT has demonstrated its capability to orchestrate tokenized asset transactions as a single, coordinated process, integrating both blockchain platforms and traditional financial systems.
Thomas Dugauquier, SWIFT’s tokenized assets product lead, stated, “This milestone demonstrates how collaboration and interoperability will shape the future of capital markets. By proving that SWIFT can orchestrate multi-platform tokenised asset transactions, we’re paving the way for our members to adopt digital assets with confidence, and at scale.”
For the trial, SWIFT partnered with SG-Forge, which provided its digital asset and EURCV stablecoin. This enabled delivery-versus-payment (DvP) settlement for the tokenized bonds and supported key lifecycle events, including interest pay-outs and redemption.
BNP Paribas Securities Services and Intesa Sanpaolo served as paying agents and custodians. The trial illustrated how tokenized bonds can utilize existing financial infrastructure, thereby shielding institutions from underlying blockchain complexity and potentially accelerating market adoption.
The initiative also showcased the integration of ISO 20022 messaging standards with blockchain-native platforms to facilitate secure and compliant workflows for tokenized bonds.
SWIFT noted this trial is part of a broader series of digital asset projects. These include connecting tokenized assets with traditional payment systems in collaboration with UBS Asset Management and Chainlink, as well as enabling ISO 20022-based blockchain interoperability on its network with HSBC and Ant International.
“With this series of successful trials now completed, we’re now focused on adding a blockchain-based ledger to our technology infrastructure,” SWIFT announced. “The ledger will initially focus on enabling real-time, 24/7 cross-border payments, designed in collaboration with over 30 banks worldwide.”
