SWIFT Tests Euro Stablecoin for Tokenized Bond Payments With Societe Generale

SWIFT has completed a major pilot project that could change how traditional finance interacts with blockchain technology. The global financial messaging network tested the use of a euro-backed stablecoin to process payments related to tokenized bonds in collaboration with SG-Forge, the digital asset subsidiary of French banking giant Societe Generale.

The stablecoin used in the trial is called EUR CoinVertible, also known as EURCV. According to SG-Forge, it is the first euro stablecoin fully compliant with the European Union’s MiCA regulation and designed to work directly with SWIFT’s interoperability infrastructure. This means the digital asset can interact smoothly with existing banking systems instead of operating in isolation.

During the test, SWIFT acted as the coordination layer that connected blockchain-based transactions with traditional financial messaging standards. This allowed the system to handle bond issuance, delivery-versus-payment settlement, coupon payments, and redemption processes while using both digital assets and traditional payment rails at the same time.

The trial is important because it shows that stablecoins can move beyond crypto trading and enter regulated capital markets. Instead of forcing banks to rebuild their core systems, the integration allows institutions to continue using familiar infrastructure such as ISO messaging standards while benefiting from blockchain speed and transparency.

EUR CoinVertible is fully backed by reserves and designed specifically for institutional use. Its MiCA compliance gives banks and regulators confidence that the asset meets strict European standards for transparency, consumer protection, and financial stability. This regulatory clarity is one of the main reasons the project was able to move forward at an institutional level.

For SWIFT, the test represents another step in its broader digital finance strategy. Rather than competing with blockchain networks, SWIFT is positioning itself as a bridge that connects traditional finance with tokenized assets and stablecoins. This approach allows banks to adopt digital assets without abandoning existing operational frameworks.

The successful pilot also highlights a growing trend in global finance. Tokenized bonds, real-world assets, and regulated stablecoins are increasingly being tested by major institutions instead of remaining limited to experimental crypto platforms. Financial giants are now focusing on real use cases that improve efficiency, reduce settlement time, and lower operational risk.

While the trial does not mean immediate mass adoption, it sends a strong signal that blockchain-based settlement systems are becoming practical for large-scale financial markets. As more banks and regulators explore similar models, stablecoins and tokenized assets could become a standard part of how global financial infrastructure operates in the future.