Societe Generale-FORGE and Swift Pilot Hybrid Tokenized Bond Settlement Using Stablecoins
Societe Generale-FORGE and Swift have successfully tested a hybrid settlement model for tokenized bonds, combining fiat currencies with the MiCA-compliant stablecoin EUR CoinVertible. The pilot demonstrated seamless interoperability across traditional and blockchain-based systems, from issuance to redemption.
Key operational flows including delivery-versus-payment mechanics and coupon distributions were executed within Swift's existing infrastructure. This marks a significant step in institutional adoption of digital assets for capital markets operations.
The use of EUR CoinVertible highlights growing regulatory alignment in Europe's crypto markets, with MiCA compliance providing a framework for institutional participation. Hybrid models may accelerate adoption by bridging legacy systems with blockchain efficiency.