The legacy international payments network Swift says it has successfully completed a “landmark” trial enabling the exchange and settlement of tokenized bonds.
Swift, which is used by more than 11,000 banks and financial institutions, says the pilot program executed seamless transactions across blockchain platforms and traditional systems.
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The trial, conducted 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 marks the first time Swift orchestrated tokenized asset transactions as a single process across networks, integrating ISO 20022 messaging standards with blockchain platforms for secure workflows.
“By proving that Swift can orchestrate multi-platform tokenized asset transactions, we’re paving the way for our members to adopt digital assets with confidence, and at scale. It’s about creating a bridge between traditional and emerging technologies.”
The trial supported payments in both fiat and digital currencies, including FORGE’s EURCV stablecoin. BNP Paribas and Intesa Sanpaolo served as paying agents and custodians.
The initiative is part of broader tokenization efforts, including trials with UBS Asset Management, Chainlink, Citi, Northern Trust, the Reserve Bank of Australia, HSBC and Ant International.
Swift now plans to add a blockchain-based ledger for real-time, 24/7 cross-border payments, developed with over 30 banks.
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