The post SG Issues USD Stablecoin on Ethereum and Solana appeared on BitcoinEthereumNews.com.

Key Notes This follows the successful launch of its euro-pegged EUR CoinVertible (EURCV) on the Stellar network in April 2023. Societe Generale is capitalizing on the growth of the overall stablecoin market which is nearing an all-time high of $250 billion. US legislative efforts, such as the Senate’s bipartisan stablecoin bill, aim to establish clear regulations, encouraging institutional adoption.
. On Tuesday, June 10, French financial services giant Societe Generale announced the launch of its USD-pegged stablecoin through its crypto subsidiary Societe Generale-FORGE. Interestingly, the firm has chosen blockchain platforms Ethereum and Solana to bring its stablecoin USD CoinVertible (USDCV). Another UK-based financial services firm BNY will serve as the custodian for the stablecoins. This announcement builds on the firm’s April 2023 introduction of EUR CoinVertible (EURCV), a euro-pegged stablecoin designed for institutional clients, launch on the Stellar blockchain network. Jean-Marc Stenger, CEO of Societe Generale-FORGE said: “After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a US Dollar version (USDCV) was the obvious next step for Société Générale–Forge as market adoption of stablecoins is growing exponentially”. USDCV seeks to deliver frictionless entry into the stablecoin ecosystem, facilitating round-the-clock exchanges between traditional currencies and digital dollar or euro equivalents. The company states that this system will allow for instant transaction settlement in both US dollars and euros. Societe generale rides the stablecoin wave With the United States working on clear stablecoin regulations by introducing the GENIUS Act, big market players are already exploring the use of fiat-pegged digital assets and cutting costs. Last week, Arizona Senator Ruben Gallego stated that as many as 16 Democrats could back the Senate’s stablecoin bill in its final vote. He noted that the bill, scheduled for a vote this week, is likely to receive robust bipartisan support, potentially exceeding the backing…

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Filed under: News - @ June 10, 2025 12:19 pm