SWIFT Tests Societe Generale MCA-Compliant Euro Stablecoin
Global banking messaging network SWIFT has tested Societe Generale's Euro-Peg stotico as part of a collaboration aimed at improving interoperability between traditional financial systems and blockchain-based assets.
Societe Generale's digital asset subsidiary SG-Forge has announced the successful completion of the exchange and settlement of tokenized bonds in fiat and digital currencies.
The partnership includes transactions in SG-Forge's stablecoin EUR CoinVertible (EURCV), which the bank initially launched on Ethereum in 2023.
“This initiative shows that tokenized bonds can use existing payment infrastructures, allowing financial institutions and corporations to benefit from fast settlement and secure and compliant procedures by integrating ISO 20022 standards,” said SG-Forge.
“The First MCA-Compatible Stablecoin for SWIFT Interoperability”.
The joint project has demonstrated feasibility for key market operational use cases; These include giving away, shipping with payment, coupon payments and redemptions.
As part of the collaboration, SG-Forge has released its open source standard, the Compliance Architecture for Security Tokens (CAST), including its security token and the EURCV stablecoin.
In particular, SG-Forge described the EURCV stablecoin as the first onchain settlement asset that is aligned with European markets and “compared with SWIFT’s flexibility capabilities” under the Crypto-Assets (MiCA) framework.
“By proving that SWIFT can orchestrate multi-platform tokenized asset transactions, we're paving the way for our customers to accept digital assets with confidence and scale,” said Thomas Dugauquier, SWIFT's product lead for tokenized assets, in a joint announcement.
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“It's about creating a bridge between existing finance and new technologies,” he added.
SWIFT works with 30 banks on a common blockchain-based registry
SWIFT announced in September 2025 that it plans to “add blockchain-based ledgers to its infrastructure stack.”
SG-Forge was one of at least 30 financial institutions that SWIFT partnered with globally for its account project, which focuses on real-time, 24/7 cross-border payments and started with a conceptual prototype developed by Ethereum software company Consensys.
Swift's upcoming system is expected to implement blockchain technology to provide a “secure transaction ledger” shared between financial institutions, which records sequences, verifies transactions and enforces rules through smart contracts.
Cointelegraph reached out to SG-Forge and SWIFT for comment on the specific blockchain networks used in the recently completed project, but did not receive a response as of press time.
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