Swift, the global financial messaging network, in partnership with Chainlink, has successfully completed a landmark interoperability trial for tokenized assets with major European banks BNP Paribas, Intesa Sanpaolo, and Société Générale's SG-FORGE. This milestone, announced on January 15, 2026, extends their ongoing collaboration with UBS Asset Management and represents a significant step in bridging traditional finance with blockchain technology.
The trial focused on the "seamless exchange and settlement of tokenized bonds," supporting payments in both fiat and digital currencies. It covered delivery-versus-payment (DvP) settlement and key lifecycle events like interest payouts and redemptions. Swift described this as "the first time we have demonstrated our ability to orchestrate tokenized asset transactions as a single, coordinated process across both blockchain platforms and traditional systems."
A critical element involved leveraging SG-FORGE's digital asset infrastructure and its EURCV stablecoin to enable DvP settlement. BNP Paribas Securities Services and Intesa Sanpaolo acted as paying agents and custodians. The initiative showcased the integration of ISO 20022 messaging standards with blockchain-native platforms, allowing institutions to utilize existing infrastructure rather than building bespoke systems.
Thomas Dugauquier, Swift’s tokenised assets product lead, stated: "This milestone demonstrates how collaboration and interoperability will shape the future of capital markets. It’s about creating a bridge between traditional finance and emerging technologies."
This trial is part of a decade-long partnership between Swift and Chainlink, which began with a concept demonstration at Sibos 2016 by Chainlink co-founder Sergey Nazarov. Their collaboration has accelerated with the implementation of Chainlink's Cross-Chain Interoperability Protocol (CCIP), enabling data and token transfers between public and private blockchains triggered by Swift messages.
Previous pilots include a 2024 model with UBS Asset Management for settling tokenized fund subscriptions and redemptions, and the 2025 introduction of the Digital Transfer Agent technical standard. Swift has also conducted related experiments with Citi, Northern Trust, the Reserve Bank of Australia, HSBC, and Ant International.
With this trial series now complete, Swift is focusing on adding a blockchain-based ledger to its infrastructure stack, starting with real-time, 24/7 cross-border payments developed in collaboration with over 30 banks worldwide.
