- SG-FORGE partnered with Swift for a successful tokenized bond pilot.
- Advances capital market digitalization with EUR CoinVertible.
- Project involves over 30 global banks in blockchain collaboration.
SG-FORGE, the digital asset arm of Société Générale, successfully issued tokenized bonds using Swift’s infrastructure and EUR CoinVertible, confirming potential synergy between blockchain platforms and traditional payment systems.
This collaboration is poised to enhance digital capital market processes, highlighting Swift’s capacity for cross-platform asset coordination, fostering secure, scalable digital asset adoption within financial markets.
SG-FORGE and Swift Lead Blockchain Integration Efforts
SG-FORGE and Swift successfully executed the issuance, delivery-to-payment, and redemption of tokenized bonds using the EUR CoinVertible (EURCV) stablecoin, adhering to MiCA regulations as reported by CoinDesk. This pilot is a component of an extensive experiment with more than 30 banks globally.
The successful trial includes the potential for traditional and blockchain systems to work together to enhance and expedite the operations of capital markets. The collaboration incorporates existing payment infrastructures with the capabilities of blockchain technology.
Industry leaders such as Jean-Marc Stenger, CEO of SG-FORGE, emphasized the importance of this collaboration:
“The collaboration supports the adoption of efficient, fast, and secure payment solutions for financial institutions and corporates using distributed ledger technology and EUR CoinVertible as a reference stablecoin.”
Thomas Dugauquier from Swift noted interoperability’s role in shaping future capital market operations. Both leaders highlighted the strategic value of blockchain technology in enhancing payment networks.
Historical Significance and Regulatory Implications
Did you know? In 2019, SG-FORGE conducted one of Europe’s pioneering tokenized bond issuances, paving the way for broader adoption of digital financial instruments and establishing a precedent for collaborations such as the recent Swift pilot with over 30 global banks.
CoinMarketCap data indicates that the EUR CoinVertible (EURCV) trades at $1.16 with a market cap of $76.47 million. A trading volume of $14.12 million reflects a slight daily price decline of 0.18%. The stablecoin’s price fluctuated marginally over recent months, minus 0.39% aggregate change in 90 days.
Insights from the Coincu research team suggest that this project potentially heralds new regulatory frameworks accommodating blockchain-based finance, as suggested by historical adoption trends. While not all details are determined, the move might facilitate quicker regulatory acceptance for such instruments.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
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