, through its crypto subsidiary Societe Generale-FORGE (SG-FORGE).){kind=link}
21st February 2025 – (Paris) French banking giant Societe Generale has announced the launch of its MiCA-compliant stablecoin, EUR CoinVertible (EURCV), through its crypto subsidiary Societe Generale-FORGE (SG-FORGE). This stablecoin, backed by Euros, is issued on the Ethereum public blockchain and marks one of the first Euro stablecoins to fully comply with the EU’s Markets in Crypto-Assets (MiCA) regulations.
The launch merges the regulatory assurance of MiCA with the robust infrastructure of Stellar’s blockchain, offering a secure, scalable, and transparent product for users. This development is expected to enhance access for both individuals and businesses to the new stablecoin, further advancing the evolution of digital assets in Europe.
According to Denelle Dixon, CEO of the Stellar Development Foundation, the introduction of EURCV on the Stellar network represents a significant milestone in the evolution of digital payments. She stated, “By combining the powerful blockchain technology of Stellar with a trusted MiCA-compliant stablecoin, users are offered a more efficient way to store and transfer value across borders.”
The integration of EURCV into Stellar’s ecosystem allows it to connect with a diverse network of financial institutions, asset managers, and traditional finance entities already active on the platform. This positions EURCV for enhanced utility in cross-border transactions and various financial applications.
The decision to utilise Stellar’s technology stems from its critical technical advantages, which include support for asset tokenization, high scalability, and rapid transaction speeds—typically completing in seconds. Additionally, transaction costs are minimal, making it ideal for micropayments and cross-border transfers.
Guillaume Chatain, Chief Revenue Officer at SG-FORGE, remarked, “Our upcoming integration with Stellar represents a pivotal moment in bridging traditional finance with the digital asset ecosystem.” He highlighted that Stellar’s connections with asset managers and TradFi institutions align perfectly with SG-FORGE’s mission to promote broader adoption of stablecoins within the financial system.
Societe Generale-FORGE, as an integrated and regulated subsidiary of the Societe Generale Group, has developed an open, institutional-grade platform for digital asset trading, ensuring bank-grade security and regulatory compliance. In a related context, Societe Generale recently completed a test repo transaction using the Banque de France’s Central Bank Digital Currency (CBDC) on the Ethereum blockchain in late December 2024.