tl;dr
French banking giant SocGen’s unit, SG-FORGE, has launched its euro-backed stablecoin, EUR CoinVertible (EURCV), on the Stellar blockchain. This move aims to provide businesses and financial institutions with a secure, transparent, and scalable digital euro option, reinforcing compliance with the EU...
French banking giant Societe Generale's unit SG-FORGE has expanded its euro-backed stablecoin, EUR CoinVertible (EURCV), to the Stellar blockchain. This move aims to provide businesses and financial institutions with a secure, transparent, and scalable digital euro option while reinforcing compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation.
SG-FORGE originally launched EURCV on Ethereum and has now integrated it with Stellar for its high-speed, low-cost transaction capabilities. This expansion onto Stellar reflects growing institutional interest in blockchain-based financial solutions and the potential role of stablecoins in Europe’s future financial landscape.
The integration with Stellar provides EURCV access to its decentralized exchange (DEX) and a broad network of asset managers, financial institutions, and traditional finance entities. This demonstrates a significant step in the evolution of regulated digital assets in Europe, as it joins a growing ecosystem of financial institutions embracing blockchain technology.
EURCV's compliance with MiCA regulations is expected to drive further institutional adoption, offering investors greater transparency and security. SG-FORGE's chief revenue officer stated, "Our integration with Stellar bridges traditional finance with digital assets. Stellar’s strong industry connections and technical capabilities align with our mission to expand stablecoin adoption within the financial system."
Denelle Dixon, CEO of the Stellar Development Foundation, emphasized that the partnership offers businesses and individuals a more efficient way to store and transfer value across borders. With major banks increasingly leveraging public blockchains for regulated digital assets, stablecoins like EURCV could play a central role in Europe’s future financial landscape.