MAROKO133 Hot crypto: Societe Generale-FORGE and Swift Settle Tokenized Bonds Using Stable

📌 MAROKO133 Hot crypto: Societe Generale-FORGE and Swift Settle Tokenized Bonds Us

The digital asset subsidiary of French banking giant Societe Generale-FORGE and Swift have completed a pilot demonstrating the exchange and settlement of tokenized bonds using both fiat and digital currencies.

Societe Generale-FORGE said the pilot successfully demonstrated end-to-end settlement flows for tokenized bonds, including issuance, delivery-versus-payment (DvP), coupon payments and redemption.

Central to the trial was SG-FORGE’s EUR CoinVertible, the MiCA-compliant stablecoin designed for on-chain settlement and natively compatible with Swift’s interoperability capabilities.

In September, Societe Generale-FORGE partnered with Bullish Europe GmbH, a BaFin-regulated provider of digital asset trading and custody services, to launch the USD CoinVertible (USDCV).

By offering both EURCV and USDCV, SG-FORGE and Bullish Europe said it is positioning itself at the forefront of regulated stablecoin adoption bridging the gap between traditional financial infrastructure and blockchain-based markets.

Bridging Blockchain and Traditional Finance

This latest collaboration builds on years of joint work between SG-FORGE, Swift, major financial institutions, and public bodies to establish a secure and interoperable framework for digital assets.

Swift’s role as an orchestration layer proved critical, coordinating messages and settlement across multiple platforms while maintaining compliance with established financial messaging standards.

European Digital Finance Initiatives

The project also builds on experimental work by the European Central Bank around interbank central bank digital currency. The firm said by adding fiat currencies alongside stablecoins as settlement assets, the trial explored hybrid settlement models that could appeal to banks and corporate firms.

The settlement flows were completed using Swift infrastructure and ISO 20022 standards, reinforcing the feasibility of adopting tokenized assets within existing regulatory and operational frameworks.

A Blueprint for Scalable Digital Asset Adoption

By proving that tokenized bonds can settle efficiently over Swift, the project also highlights a practical path toward faster settlement cycles, reduced operational risk, and enhanced transparency for capital markets participants.

Thomas Dugauquier, Tokenised Assets Product Lead at Swift, said the trial demonstrates how interoperability will shape the future of capital markets, enabling customers to adopt digital assets with confidence and at scale.

SG-FORGE CEO Jean-Marc Stenger added that 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.

Tested with participating banks the pilot forms part of Swift’s broader digital asset programme. In September last year, Swift said it was working with more than 30 global banks, including Societe Generale and SG-FORGE, on a shared digital ledger focused on allowing real-time, 24/7 cross-border payments.

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📌 MAROKO133 Hot crypto: New York Prosecutor Pushes to Criminalize Unlicensed Crypt

A senior New York prosecutor is urging state lawmakers to take a tougher stance on cryptocurrency crime, warning that regulatory gaps are allowing billions of dollars in illicit activity to flow through unlicensed platforms with little consequence.

Speaking at New York Law School on Wednesday, Alvin Bragg, the Manhattan district attorney, called on legislators to criminalize unlicensed crypto operations, describing a “$51 billion criminal economy” that exploits weak oversight to launder proceeds from guns, drugs, fraud, and terrorism financing.

Bragg said closing those gaps has become a core priority alongside enforcement efforts targeting gun violence and organized retail theft.

New York Prosecutor Warns Unlicensed Crypto ATMs Fuel Money Laundering

Bragg focused heavily on unlicensed crypto kiosks and ATMs, which he said often charge fees as high as 20% to convert cash into digital assets while asking few questions about the source of funds.

According to Bragg, these machines have become a preferred tool for criminals seeking to move dirty money into crypto without interacting with regulated financial institutions.

“They know you’re laundering gun proceeds,” Bragg said during his remarks. “And they do it without necessarily asking you.”

While Manhattan prosecutors have successfully brought cases involving unlicensed Bitcoin ATM operations and terror financing schemes, Bragg warned that current laws force investigators to rely too often on criminals making mistakes.

He argued that enforcement should not depend on someone accidentally touching the traditional banking system or boasting about their crimes online.

“We shouldn’t need someone to slip up,” he said. “There are people far wiser than that.”

Bragg proposed mandatory licensing and know-your-customer requirements for all crypto businesses operating in New York, backed by criminal penalties for violations.

Any company involved in transferring, trading, or facilitating the movement of digital assets should be subject to the same baseline oversight, he said.

“If you are operating a crypto business, you should be licensed,” Bragg said. “It’s that simple.”

If adopted, the measure would make New York the 19th U.S. state to criminalize unlicensed crypto operations, according to Bragg.

Supporters argue such a move would strengthen consumer protections and give prosecutors clearer authority to pursue cases tied to fraud and money laundering.

New York Lawmakers Target “Pig-Butchering” Crypto Scams

During a question-and-answer session, concerns were raised about elderly New Yorkers who have lost life savings to so-called “pig-butchering” scams, where victims are groomed online before being convinced to send crypto to fraudulent addresses.

Bragg acknowledged the difficulty of recovering stolen funds and pointed to proposed legislation, including Senator Zellnor Myrie’s R.I.P.O.F.F. Act, as a way to expand recovery tools.

The push in New York comes as federal authorities also escalate enforcement.

Earlier this week, US prosecutors in Massachusetts sought the forfeiture of $200,000 in USDT linked to a romance-based crypto scam.

As reported, crypto scammers defrauded victims of at least $9.9 billion in 2024, marking one of the most significant financial crimes of the year.

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