societegenerale

SWIFT and Societe Generale's digital asset subsidiary, SG-Forge, successfully completed a test of tokenized bond settlement using the EUR CoinVertible (EURCV), a euro-pegged stablecoin that is compliant with the European Union's Markets in Crypto-Assets (MiCA) framework. The trial, conducted in early 2025, demonstrated the effective connection between traditional financial systems and blockchain technology.
Test Details and Findings
The collaboration showcased how SWIFT's existing infrastructure can facilitate the full lifecycle of tokenized bond transactions when integrated with blockchain assets, without institutions needing to abandon their current systems.
Key Use Cases Demonstrated: The test successfully covered essential market operations for tokenized bonds, including issuance, delivery-versus-payment (DvP) settlement, coupon (interest) payments, and redemption.
Technology Integration: The pilot successfully integrated the global financial messaging standard ISO 20022 with on-chain settlement assets, enabling faster, secure, and compliant operational processes.
Participants: In addition to SWIFT and SG-Forge, BNP Paribas Securities Services and Intesa Sanpaolo acted as paying agents and custodians during the transactions, confirming that tokenized assets can integrate with established market roles.
MiCA Compliance: The use of the MiCA-compliant EURCV stablecoin as a settlement asset addressed significant regulatory barriers, enhancing market confidence and paving the way for broader institutional adoption of digital assets within the EU legal framework.
Future Outlook
This successful test is a significant step toward the mainstream adoption of asset tokenization in capital markets. SWIFT plans to build on these findings by integrating a blockchain-based shared ledger into its technology stack, which will initially focus on enabling real-time, 24/7 cross-border payments. The initiative highlights the potential for collaboration and interoperability to shape the future of finance, blending the resilience of traditional finance with the efficiency of emerging technologies.
#Swift #SocieteGenerale #MiCA #stablecoin #Tokenization

În 2008, lumea înaltei finanțe a fost martora unui scandal fără precedent, care a lăsat-o zguduită pe Société Générale. În centrul acestei debacle financiare s-a aflat Jérôme Kerviel, un comerciant junior modest, ale cărui acțiuni aveau să devină una dintre cele mai nesăbuite scheme din istoria băncilor. Funcționând de la biroul Delta One, unde erau tranzacționate contracte futures pe acțiuni europene, exteriorul aparent harnic al lui Kerviel a mascat un pariu periculos care ar zgudui lumea financiară.
Fără o educație de elită sau un fundal de prestigiu, Kerviel a simțit presiunea de a se dovedi într-o industrie stricăcioasă. În loc să adere la practicile standard de tranzacționare, el a început să execute tranzacții masive, neautorizate, pe futures pe indicele european. Condus de ambiție, el a ignorat garanțiile, plasând mize din ce în ce mai mari și ascunzându-și activitățile prin tranzacții falsificate. Aceste acțiuni au creat iluzia respectării limitelor de risc ale băncii, permițându-i să zboare sub radar luni de zile.