French lender Societe Generale’s unit SG-FORGE has expanded its stablecoin offering by launching EUR CoinVertible (EURCV) on the Stellar blockchain. This move is part of the company’s multichain strategy and is aimed at ensuring compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation.
The launch of EURCV on Stellar is a significant development in the world of regulated digital assets in Europe. By leveraging the Stellar blockchain infrastructure, SG-FORGE aims to provide businesses and financial institutions with a secure, transparent, and scalable digital euro option. Stellar’s high-speed and low-cost transaction capabilities make it an ideal network for EURCV, enhancing its utility for cross-border payments and financial applications.
SG-FORGE initially launched EURCV on the Ethereum blockchain and has now expanded to Stellar to take advantage of its fast settlement times, low transaction fees, and high scalability. The integration with Stellar also provides EURCV with access to Stellar’s decentralized exchange (DEX) and its extensive network of asset managers, financial institutions, and traditional finance entities.
EURCV is one of the first stablecoins to fully comply with MiCA regulations, offering investors greater transparency and security. By aligning with Europe’s evolving digital asset framework, EURCV is expected to drive further institutional adoption. SG-FORGE’s chief revenue officer, Guillaume Chatain, emphasized the importance of bridging traditional finance with digital assets through the integration with Stellar.
Denelle Dixon, CEO of the Stellar Development Foundation, praised the partnership with SG-FORGE as a significant step forward in the evolution of digital payments. The collaboration between the two entities offers businesses and individuals a more efficient way to store and transfer value across borders.
The expansion of SG-FORGE’s stablecoin onto the Stellar blockchain showcases the growing interest among institutions in blockchain-based financial solutions. With major banks increasingly turning to public blockchains for regulated digital assets, stablecoins like EURCV are poised to play a central role in Europe’s future financial landscape.
Societe Generale has been actively exploring blockchain initiatives, including issuing green bonds and conducting repo transactions on a public blockchain in collaboration with the French central bank. The launch of EURCV on Stellar is a testament to the company’s commitment to innovation and embracing new technologies in the financial sector.