Global payments network SWIFT has tested a euro-backed stablecoin from Societe Generale to see how blockchain technology can work alongside traditional banking systems. The trial involved Societe Generale’s digital arm, SG-Forge, settling tokenized bonds using both regular money and a digital euro stablecoin.
The test showed that tokenized bonds can settle faster while still using existing banking standards such as ISO 20022. SG-Forge said the euro stablecoin used in the trial is compliant with European crypto rules and works smoothly with SWIFT’s systems.
The trial covered key financial activities like bond issuance, delivery-versus-payment settlement, coupon payments and redemption. Other major banks also took part as custodians and payment agents, helping prove real-world use cases.
SWIFT said the project confirms that digital assets can fit into current banking workflows. The new system is expected to support round-the-clock cross-border payments and make global financial markets faster, safer and more efficient.
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