It is a world first: Société Générale-Forge becomes the 1st bank in the world to issue a stablecoin leaning against the dollar on a public blockchain. Appointed USDCV, the latter plans to meet the requirements of traders and individuals.
Société Générale-Forge launches its stablecoin backed by the dollar
SG-FORGE, the Société Générale subsidiary dedicated to digital assets, has just announced that it would soon deploy the USD Coinvertible (USDCV), a stablecoin leaning against the dollar. The latter will see the light of day both on the Ethereum (ETH) and Solana (Sol) blockchains next July, according to the press release.
This is not the 1st foray into the world of stablecoins for Société Générale-Forge, Since she launched the EURCV, a stablecoin backed by the Euro, more than 2 years ago.
Today capitalized at just over $ 41 million, the EURCV is gradually evolving – it has recently been the subject of a partnership with BCB Group, European leader in payment and digital asset services. Last September, he joined the Solana ecosystem for more speed of transaction.
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After the launch of a stablecoin in Euro compliant with Mica (EURCV), the deployment of a dollar version appeared as a logical suite for SG-Forge, in a context of rapid growth in the adoption of Stablecoins.
Just as for the latter, the USDCV will allow instant conversions, 24/7 with fiduciary currencies. And in the same way, it will respond to different use cases, whether for trading, on-chain activity or payments.
Regarding his collateralization, The USDCV will have its reserves at BNY Mellonand the latter will be made public on a daily basis.
The cash market crosses a deep transformation, and the stablecoins available 24/7 are one of the major engines. They could improve system resilience, optimize operations and open new perspectives for businesses and investors.
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Finally, note that SG-Forge is approved as an electronic currency establishment by the Prudential Control Authority and Resolution (ACPR) in France, and that its 2 Stablecoins are electronic currency (EMT) toys in accordance with European Mica regulations.
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Source: press release
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