Swift Completes Tokenised Asset Trials With Major Banks, Plans Blockchain Ledger Integration

TLDR:

• Swift successfully orchestrated tokenized bond settlements across multiple blockchain platforms and systems.
• Over 30 global banks collaborate on Swift’s new blockchain ledger for real-time cross-border transactions.
• Trials integrated the EURCV stablecoin with traditional fiat currency for delivery-versus-payment settlements.
• Swift submitted new market practice guidelines to standardize digital asset adoption across institutions.

Swift has successfully concluded digital asset interoperability trials with BNP Paribas Securities Services, Intesa Sanpaolo, and Société Générale–FORGE. 

The trials demonstrated Swift’s capability to orchestrate tokenized asset transactions across multiple blockchain platforms and traditional systems. 

This development represents a major advancement in connecting fragmented digital finance ecosystems. 

The financial messaging network now plans to integrate a blockchain-based ledger into its infrastructure for real-time cross-border payments.

Multi-Platform Settlement Achieves Key Milestone

The recent trial enabled seamless exchange and settlement of tokenized bonds across different platforms. Swift facilitated delivery-versus-payment settlement, interest payouts, and bond redemption processes during the initiative. 

BNP Paribas Securities Services and Intesa Sanpaolo participated as paying agents and custodians throughout the trial period.

The collaboration with SG-Forge utilized Societe Generale’s EURCV stablecoin for settlement operations. 

Participants completed transactions using both fiat currency and digital currencies during the testing phase. 

Swift’s infrastructure successfully shielded financial institutions from underlying blockchain complexity throughout all settlement flows.

Thomas Dugauquier, Tokenized Assets Product Lead at Swift, emphasized the trial’s importance for capital markets. 

He stated that proving Swift can orchestrate multi-platform tokenized asset transactions paves the way for member adoption. 

According to Dugauquier, the initiative creates a bridge between traditional finance and emerging technologies while enabling digital asset confidence.

Broader Digital Asset Trial Programme Concludes

Swift completed several digital asset use cases beyond the tokenized bond trials. The network tested ISO 20022 interoperability between blockchains with HSBC and Ant International. Separate trials explored fiat and digital currency settlement mechanisms with Citi’s participation.

Northern Trust and the Reserve Bank of Australia joined Swift for digital asset transaction exchange testing. 

UBS Asset Management and Chainlink collaborated on bridging tokenized assets with existing payment systems. 

Swift announced these developments through its social media channels, stating that interoperability represents the future of digital finance.

Over 30 banks worldwide are now collaborating with Swift on the blockchain-based ledger development. The new infrastructure will initially focus on enabling continuous cross-border payment operations. 

This approach aligns with G20 objectives for improving international payment systems across multiple jurisdictions.

New Infrastructure Addresses Market Fragmentation

The financial industry faces growing fragmentation as multiple blockchains and proprietary protocols emerge. 

Swift aims to act as a neutral orchestrator connecting traditional rails with digital ecosystems. The network’s approach leverages both ISO 20022 and ISO 15022 standards for scalability.

Swift submitted a proposal for new market practice guidelines to the Securities Market Practice Group. The guidelines aim to embed best practices into established workflows for digital asset adoption. 

These standards will help reduce onboarding complexity while maintaining systemic stability across institutions.

The planned blockchain-based ledger will extend Swift’s capabilities beyond financial messaging and APIs. This shared execution layer will align actions, timing, and outcomes between transaction parties. 

The infrastructure will provide execution assurance across networks, assets, and currencies for global institutions.

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