Societe Generale Unveils Euro Stablecoin on Ethereum

Societe Generale–FORGE (SG-FORGE), a fully integrated and regulated subsidiary of Societe Generale group dedicated to digital assets, launches the EUR CoinVertible, a digital asset that purports to maintain a stable value "stablecoin". EUR CoinVertible is deployed in Euro denomination on the Ethereum public blockchain (ticker code: EURCV).

This pioneering project complements SG-FORGE’s business offer to institutional clients seeking to benefit from innovative settlement and cash management solutions. It is designed to bridge the gap between traditional capital markets and the digital assets ecosystem based on the CAST[1] open-source interoperability and securitization framework.

It is part of with Societe Generale group’s strategy, developing initiatives in the field of digital assets in a secure and transparent framework for institutional investors, fully in line with banking, legal and regulatory standards.

Jean-Marc Stenger, Chief Executive Officer at SG-FORGE said: “Digital assets with stabilisation mechanisms – i.e. stablecoins – built under a robust banking-grade structure will be a key element to increase trust and confidence in the native crypto ecosystem. This issuance is a major step in Societe Generale–FORGE’s roadmap to deliver innovative solutions to its clients, either real-money institutions and corporates or entities of the crypto industry, and to facilitate the emergence of new market infrastructures based on blockchain technology.”