ChainCatcher news, Société Générale's subsidiary SG Forge will deploy its euro stablecoin EURCV on the XRP Ledger network. By deploying on XRPL, SG-FORGE aims to benefit from the network's cross-border payment and tokenization capabilities, promoting its fast settlement and low-cost transactions. EURCV will be issued using Ripple's custody service.RippleX Senior Vice President Markus Infanger stated, "Introducing trusted bank-grade stablecoins like EURCV to XRPL is crucial for enabling institutional use cases such as payments, which is a core focus for Ripple."EURCV was launched in 2023 on Ethereum and is a highly regulated product.

ChainCatcher news, according to Coindesk, Société Générale's subsidiary SG Forge announced the launch of the euro stablecoin EUR CoinVertible (EURCV) on the Solana blockchain.EURCV was previously issued on the Ethereum blockchain last year as a highly regulated euro alternative to dollar stablecoins like Tether and Circle.However, EURCV's performance on Ethereum has not been ideal. According to Etherscan data, there are currently only 28 holders, 154 transaction records, and a total issuance of 33 million. SG Forge hopes to test the demand from crypto users for a euro stablecoin on a faster and lower-cost network by issuing EURCV on Solana.

ChainCatcher news, according to CoinDesk, the Société Générale's euro stablecoin EUR Coinvertible (EURCV) has started trading on the European cryptocurrency exchange Bitstamp.

ChainCatcher news, according to the Financial Times, Société Générale has become the first major bank to launch a stablecoin, the EUR CoinVertible (EURCV), pegged to the euro, on Bitstamp.Société Générale's digital assets division, SocGen Forge, stated that the bank hopes its stablecoin will be used for settling transactions of digital bonds, funds, and other assets. This stablecoin is in line with the upcoming Markets in Crypto-Assets (MiCA) regulation, which will take effect next year, emphasizing that "few stablecoins meet MiCA standards." Axa Investment Managers has already used Société Générale's stablecoin to invest in a digital green bond.

ChainCatcher news, Flowdesk has been appointed by Forge, a subsidiary of Société Générale (GLE), as the new market maker for its euro stablecoin EUR CoinVertible (EURCV).As a market maker, Flowdesk will provide liquidity for the EURCV-EUR and EURCV-USDT trading pairs and has been authorized by SG-FORGE to trade EURCV.