🚀 SG Forge to Launch Euro Stablecoin on Solana Blockchain
#SGForge #EuroStablecoin #EURCoinVertible #Solana #Ethereum #Blockchain #Cryptocurrency #Stablecoins #SociétéGénérale #SOL
According to Odaily, SG Forge, a subsidiary of Société Générale, has announced the launch of its euro stablecoin, EUR CoinVertible (EURCV), on the Solana blockchain. Previously, EURCV was issued on the Ethereum blockchain last year as a highly regulated euro alternative to dollar stablecoins like Tether and Circle. However, its performance on Ethereum has been underwhelming. Data from Etherscan shows that EURCV currently has only 28 holders, 154 transaction records, and a total issuance of 33 million euros. SG Forge aims to test the demand for a euro stablecoin on a faster and more cost-effective network by issuing EURCV on Solana.#SGForge #EuroStablecoin #EURCoinVertible #Solana #Ethereum #Blockchain #Cryptocurrency #Stablecoins #SociétéGénérale #SOL
🚀 Societe Generale Completes First Blockchain Repo Transaction In Eurozone
#SocieteGenerale #Blockchain #RepoTransaction #Eurozone #SGForge #BanquedeFrance #CBDC #DigitalAssets #EU #MiCA #EURCoinVertible #FinancialSecurities #DigitalFinance #ETH
According to Foresight News, CoinDesk reports that Societe Generale's digital asset subsidiary, SG-Forge, in collaboration with the Banque de France, has successfully completed the first blockchain-based repurchase agreement transaction in the Eurozone. In this groundbreaking transaction, SG-Forge used bonds issued on the Ethereum blockchain in 2020 as collateral to obtain central bank digital currency (CBDC) issued by the Banque de France on its DL3S blockchain.
This transaction marks a significant milestone in the exploration of blockchain technology for interbank refinancing operations. Under the framework of the European Union's Markets in Crypto-Assets (MiCA) regulation, SG-Forge is actively investigating potential use cases for its euro stablecoin, EUR CoinVertible (EURCV). The successful completion of this transaction demonstrates the technical feasibility of using blockchain for such financial operations and highlights the potential of CBDCs to enhance the liquidity of digital financial securities.
Societe Generale emphasized that this transaction showcases the potential of blockchain technology in the banking sector, particularly in improving the efficiency and liquidity of financial securities through the use of CBDCs. This development is a step forward in the integration of digital assets into traditional financial systems, paving the way for further innovations in the digital finance landscape.#SocieteGenerale #Blockchain #RepoTransaction #Eurozone #SGForge #BanquedeFrance #CBDC #DigitalAssets #EU #MiCA #EURCoinVertible #FinancialSecurities #DigitalFinance #ETH
🚀 French Bank to Launch First Bank-Issued Dollar Stablecoin on Ethereum
#SociétéGénérale #stablecoin #Ethereum #SGForge #cryptocurrency #institutionalinvestors #tokenization #EUregulations #blockchain #Solana #ETH #SOL
According to PANews, French banking giant Société Générale's crypto subsidiary, SG Forge, is set to introduce the world's first bank-issued dollar stablecoin on the Ethereum network. This initiative will position Société Générale as the first multinational banking group to issue a dollar stablecoin on a public blockchain. The stablecoin is primarily targeted at institutional investors and aims to meet the European Union's demand for regulated tokenized dollar liquidity.
SG Forge holds an EU electronic money license and previously launched a euro stablecoin, EURCV, in April 2023, which currently has a circulation of 40 million euros. The company plans to expand the stablecoin's availability to other public blockchains, such as Solana, in the future.#SociétéGénérale #stablecoin #Ethereum #SGForge #cryptocurrency #institutionalinvestors #tokenization #EUregulations #blockchain #Solana #ETH #SOL
🚀 Deutsche Börse and SG-FORGE to Integrate Regulated Stablecoins
#DeutscheBörse #SGFORGE #Stablecoins #DigitalAssets #CoinVertible #Clearstream #Securities #Collateral #CashManagement #DigitalTradingPlatform #Liquidity #CentralBankDigitalCurrency #Blockchain #Crypto #FinancialServices #AssetManagement
According to PANews, Deutsche Börse Group and SG-FORGE, a digital asset subsidiary of Société Générale, announced plans to incorporate regulated euro and dollar stablecoins into their infrastructure. The agreement involves integrating SG-FORGE's CoinVertible stablecoins with Deutsche Börse's backend systems, including Clearstream. The initial phase will test CoinVertible's effectiveness as a settlement asset for securities and collateral workflows, as well as its role in cash management functions.
Deutsche Börse also intends to list these tokens on its digital trading platform to enhance liquidity. The collaboration will explore the potential use of stablecoins across Deutsche Börse's broader service offerings, including clearing, custody, and data tools for banks, asset managers, and crypto companies. This initiative aligns with the wholesale central bank digital currency pilot projects in which both companies are participating.#DeutscheBörse #SGFORGE #Stablecoins #DigitalAssets #CoinVertible #Clearstream #Securities #Collateral #CashManagement #DigitalTradingPlatform #Liquidity #CentralBankDigitalCurrency #Blockchain #Crypto #FinancialServices #AssetManagement
🚀 Societe Generale's SG-Forge Launches Euro-Pegged Stablecoin on XRPL
#SGForge #SocieteGenerale #cryptocurrency #stablecoin #EURCV #XRPL #Ripple #blockchain #Ethereum #Solana #decentralizedfinance #custodytechnology #financialproducts #ETH #SOL
SG-Forge, the cryptocurrency subsidiary of Societe Generale, has introduced its euro-pegged stablecoin, EURCV, on the XRPL blockchain. According to NS3.AI, this marks the third deployment of EURCV following its previous launches on Ethereum and Solana. The integration utilizes Ripple's custody technology and incorporates EURCV into Ripple's financial products as trading collateral. This strategic move aims to enhance EURCV's presence across major blockchain ecosystems and bolster its application in decentralized finance.#SGForge #SocieteGenerale #cryptocurrency #stablecoin #EURCV #XRPL #Ripple #blockchain #Ethereum #Solana #decentralizedfinance #custodytechnology #financialproducts #ETH #SOL