The cryptocurrency arm of French bank giant Societe Generale has launched a stablecoin in US dollars on Ethereum.ETHSolanaSOL) blockchains.
Societe Generale – FORGE has announced a recent announcement. says The USD CoinVertible is the second stablecoin to be launched by the company after EUR CoinVertible was introduced in 2023.EURCV).
Jean-Marc Stenger CEO Societe Generale-FORGE.
Following the introduction of EURCV stablecoin, which is MiCA compliant, USDCV stablecoin was a logical next step. Market adoption of stablecoins continues to grow exponentially.
Stablecoins are largely denominated in US dollars. “This new currency allows our clients – whether they are corporates, institutions or retail investors – to take advantage of the institutional grade stablecoin.”
Bank of New York Mellon Corporation will be the French bank’s new trustee. “reserve custodian, enabling seamless integration between traditional and digital financial ecosystems.”
Banks say stablecoins can be used for many purposes by their clients. These include crypto trading and cross-border payment, as well as on-chain settlements in foreign currency transactions, cash management, foreign exchange, and other types of financial transactions.
USDCV will be launched next month. Stablecoins are expected to be listed at several crypto exchanges.
The United States will not be able to purchase stablecoins at the moment.
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