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The French banking powerhouse Societe Generale is introducing a dollar-pegged stablecoin targeted at institutional clients. The reserves will be managed by one of the largest custodians globally.
SG-FORGE, a division of Societe Generale, has revealed the launch of the USD CoinVertible (USDCV) stablecoin. This new asset is denominated in U.S. dollars and will be accessible on two public blockchain platforms, Ethereum and Solana.
USDCV is tailored for institutional applications. The stablecoin’s reserves will be maintained in fiat currency within custodial accounts at Bank of New York Mellon Corporation (BNY Mellon), recognized as one of the largest and most reputable financial entities worldwide. The makeup and valuation of the reserves supporting USDCV will be shared daily. Only highly liquid assets with robust credit ratings are chosen as collateral, ensuring adherence to institutional quality benchmarks. Jean-Marc Stenger, CEO of SG-FORGE, stated that this method ensures transparency and liquidity of the reserves, along with a significant level of market confidence in the asset.
USDCV is the second stablecoin in Societe Generale’s institutional token portfolio. The first is the euro-pegged EUR CoinVertible (EURCV), which was issued in 2024 and received approval under the MiCA regulation in 2025.
Owners of USDCV will have the ability to swiftly convert fiat assets into digital tokens. USDCV will also offer 24/7 transaction capabilities in U.S. dollars. The new stablecoin is designed for a diverse array of applications, including:
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- cryptocurrency trading;
- cross-border payments;
- on-chain settlements;
- foreign exchange transactions;
- collateral and liquidity management.
Similar to EUR CoinVertible, the new stablecoin is categorized as an electronic money token (EMT) and is fully compliant with the European MiCA regulation, as SG-FORGE possesses the necessary license from the French Prudential Supervision and Resolution Authority (ACPR).
Trading of the new tokens is anticipated to commence in early July 2025. USDCV, like EURCV, will not be accessible to U.S. users in accordance with international regulatory standards.
The increasing adoption of stablecoins in the institutional sector was previously highlighted by Max Krupyshev, CEO of CoinsPaid. He noted that cryptocurrencies in general, and stablecoins specifically, are becoming vital tools for conducting international business. “Crypto is maturing. It used to be ignored or feared, but now it’s a convenient, global, and functional tool,” Max concludes.
In 2025, the largest banks and FinTech firms globally are expediting the launch of their own stablecoins to secure a portion of the cross-border payments market. Traditional finance companies are also swiftly embracing stablecoins. The transaction volume utilizing stablecoins reached $15.6 trillion in 2024.
Сообщение Societe Generale Launches Institutional Dollar Stablecoin появились сначала на CoinsPaid Media.
