Societe Generale-FORGE Launches Euro-Backed Stablecoin on Stellar Network

Societe Generale-FORGE, a subsidiary of Societe Generale Group and a licensed investment firm, has listed its euro-backed stablecoin on the Stellar network. After several stablecoin issuers received regulatory approval to offer stablecoins that comply with Markets in Crypto Assets requirements in Europe, SG-FORGE announced that it has chosen the Stellar blockchain network to launch its stablecoin.

On February 20, Societe Generale-FORGE revealed its multi-chain strategy by deploying the MiCA-compliant EURCV CoinVertible stablecoin on Stellar. This stablecoin will leverage the fast, scalable, and cost-effective Stellar network, enhancing the blockchain platform’s cross-border payments ecosystem. It is expected to gain further adoption among financial institutions and asset managers.

The integration will not only introduce EURCV to traditional financial users but will also bolster the utility of XLM in the broader decentralized finance and Web3 space. A major development supported by this partnership is asset tokenization, a sector experiencing growth as major players like BlackRock, Fidelity Investments, and Franklin Templeton enter the market.

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