Societe Generale Launches Euro-pegged Stablecoin on Ethereum

Societe Generale-Forge, the digital asset arm of French banking and financial services firm Societe Generale, has launched a euro-pegged stablecoin on the Ethereum blockchain.

The EUR CoinVertible stablecoin, which will be traded under the ticker symbol EURCV, is only available to institutional investors who have been onboarded by Societe Generale through its Know Your Customer and Anti-Money Laundering procedures.

The stablecoin is designed to bridge the gap between traditional capital markets and the digital assets ecosystem, and comply with major market standards, including the open-source interoperability and securitization framework known as Compliant Architecture for Security Token.

Additionally, the stablecoin has been developed in line with the upcoming European digital assets regulations known as the Markets in Crypto-Assets, or MiCA, framework.