Societe Generale-FORGE Launches EUR-Backed Stablecoin on Stellar

SG-FORGE Multi-Chain Strategy Takes Shape While several stablecoin issuers have received regulatory approvals in Europe, Societe Generale-FORGE (SG-FORGE) has chosen the Stellar blockchain network for its latest launch . On Feb. 20, the company announced the launch of its MiCA-compliant EUR-backed stablecoin, EURCV CoinVertible, on Stellar. Enabling Cross-Border Payments The new stablecoin will leverage Stellar’s scalable and low-cost network, aiming to enhance the platform’s cross-border payments ecosystem. By capitalizing on Stellar’s infrastructure, SG-FORGE seeks to drive broader adoption of digital euro transactions by financial institutions and asset managers. SG-FORGE and Stellar: Bridging Traditional Finance and Web3 Guillaume Chatain, chief revenue officer at SG-FORGE, emphasized the significance of this integration: “Our upcoming integration with Stellar is a milestone in bridging traditional finance and the digital asset economy. Stellar’s philosophy and current connections with asset managers and TradFi institutions are directly in line with our mission to enable broader utilization of stablecoins within the financial system.” The deal is also set to drive EURCV into non-traditional finance use cases, increasing the utilization of XLM in decentralized finance (DeFi) and Web3 applications. Tokenization and Institutional Adoption The collaboration will also promote asset tokenization, a rapidly growing market in blockchain finance. As large global monetary players, such as BlackRock, Fidelity Investments, and Franklin Templeton enter the space, SG-FORGE is looking to catch this wave. Regulatory Compliance and Expansion Plans Societe Generale-FORGE is a subsidiary of Societe Generale Group and provides blockchain services for institutional investors and issuers. It launched EURCV on Ethereum in April 2023 and will transition to the XRP Ledger by 2025. SG-FORGE is authorized as an electronic money institution by the Autorité de Contrôle Prudentiel et de Résolution and has a digital asset service provider (DASP) registration approved by the Autorité des Marchés Financiers. With this latest move, SG-FORGE continues to push its vision of bridging stablecoins into mainstream finance networks, leveraging blockchain technology to foster innovation in digital assets and tokenized finance.