SWIFT completes pilot with BNP Paribas, Intesa Sanpaolo and Societe Générale’s FORGE to settle tokenized bonds (DvP, interest payouts, redemptions) and support fiat and EURCV stablecoin

first published 2026-01-19T10:15:39Z

SWIFT ran a pilot with BNP Paribas Securities Services, Intesa Sanpaolo and Societe Generale’s FORGE that executed delivery‑versus‑payment settlement, interest payouts and bond redemptions for tokenized bonds. The trial orchestrated tokenized asset transactions across blockchain platforms and traditional systems, integrated ISO 20022 messaging, and supported payments in fiat and FORGE’s EURCV stablecoin. SWIFT said the work is part of broader tokenization efforts and plans to add a blockchain‑based ledger for real‑time, 24/7 cross‑border payments developed with 30+ banks.

AI Analysis

SWIFT successfully executed a pilot with major banks and FORGE that completed DvP settlement, interest payouts and redemptions for tokenized bonds, integrated ISO 20022 messaging, and supported fiat and the EURCV stablecoin; these facts point to positive progress on institutional tokenization but are infrastructure-focused and not an immediate price catalyst.

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