Quick Breakdown
- Swift and partners successfully settle tokenized bonds using fiat and stablecoins across multiple platforms.
- ISO 20022 integration enables secure, compliant workflows bridging blockchain and traditional finance.
- Plans for a shared blockchain ledger aim to scale digital asset adoption and real-time global settlement.
Swift, in collaboration with BNP Paribas Securities Services, Intesa Sanpaolo, and Societe Generale – FORGE, has successfully completed a landmark trial demonstrating the settlement of tokenized bonds across multiple platforms.
Seamless settlement across platforms
The trial enabled delivery-versus-payment (DvP) settlement, interest payouts, and redemption using both fiat currency and stablecoins, with key roles played by paying agents and custodians. This marks the first coordinated demonstration of tokenized asset transactions bridging blockchain networks and traditional financial infrastructure. By integrating ISO 20022 messaging standards with blockchain-native systems, the initiative allowed institutions to transact with security and compliance, reducing operational complexity and accelerating adoption of digital assets.
The trial highlighted the potential for tokenized assets to leverage existing rails, shielding financial institutions from blockchain-specific technical challenges. Swift’s orchestration ensured that all settlement flows were executed efficiently, proving that digital and fiat currency payments can coexist seamlessly in a regulated environment.
Toward a scalable digital ledger
Building on these trials, Swift plans to add a blockchain-based shared ledger to its platform. This infrastructure will enable real-time, 24/7 cross-border payments and multi-asset transactions, creating a coordinated environment where timing, execution, and outcomes are aligned across participants. The ledger aims to address fragmentation in the digital asset ecosystem, connecting isolated networks and tokenized assets while maintaining compliance with global standards.
The initiative also includes proposals for new market practice guidelines through the Securities Market Practice Group (SMPG), embedding best practices for tokenized asset adoption. By combining interoperability, compliance, and real-time settlement, Swift is positioning its network as a bridge between traditional finance and the emerging digital asset ecosystem, supporting secure, scalable, and efficient global financial transactions.
Meanwhile, Swift unveiled a major leap into blockchain infrastructure, announcing the launch of a new blockchain-based ledger at the Sibos 2025 conference. The move marks a significant milestone in modernizing global finance, leveraging years of collaboration with Chainlink to bridge traditional financial systems and blockchain networks.
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