Global Payments Giant Swift Completes ‘Landmark’ Tokenized Asset Trial

Swift Completes Successful Trial for Tokenized Bonds Exchange and Settlement

The legacy international payments network Swift has announced the successful completion of a groundbreaking trial that facilitated the exchange and settlement of tokenized bonds. This milestone achievement showcases Swift’s ability to seamlessly execute transactions across blockchain platforms and traditional systems.

With over 11,000 banks and financial institutions relying on Swift, the pilot program, conducted in collaboration with BNP Paribas Securities Services, Intesa Sanpaolo, and Societe Generale’s blockchain subsidiary FORGE, focused on delivery-versus-payment settlement, interest payouts, and bond redemptions.

This trial represents the first instance of Swift orchestrating tokenized asset transactions as a unified process across networks, integrating ISO 20022 messaging standards with blockchain platforms to ensure secure workflows.

“By demonstrating Swift’s ability to coordinate multi-platform tokenized asset transactions, we are laying the foundation for our members to embrace digital assets confidently and on a large scale. This initiative aims to bridge the gap between traditional and emerging technologies,” stated a Swift representative.

The trial facilitated payments in both fiat and digital currencies, including FORGE’s EURCV stablecoin, with BNP Paribas and Intesa Sanpaolo acting as paying agents and custodians. This initiative is part of Swift’s broader tokenization efforts, which also include collaborations with UBS Asset Management, Chainlink, Citi, Northern Trust, the Reserve Bank of Australia, HSBC, and Ant International.

Looking ahead, Swift plans to introduce a blockchain-based ledger for real-time, 24/7 cross-border payments, developed in partnership with over 30 banks.

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