The unit of the French bank SocGen to introduce Stellar stablecoins backed by euro
French lender Societe Generale’s unit SG-FORGE launched its euro-backed stablecoin, EUR CoinVertible (EURCV), on the Stellar blockchain, expanding its multichain strategy and reinforcing compliance with the EU’s Markets in Crypto-Assets (MiCA) regulation.
The move aims to provide businesses and financial institutions with a secure, transparent, and scalable digital euro option, leveraging Stellar’s blockchain infrastructure for faster, low-cost transactions, according to the Feb. 20 announcement.
Stellar Expanding
EURCV’s deployment on Stellar marks a significant step in the evolution of regulated digital assets in Europe, as it joins a growing ecosystem of financial institutions embracing blockchain technology.
The stablecoin was initially launched on Ethereum (ETH) and will now benefit from Stellar’s high-speed, low-cost transaction capabilities.
SG-FORGE said it chose Stellar as the next network for its stablecoin due to several advantages, including its high scalability, fast settlement times, and low transaction fees, which enhance EURCV’s utility for cross-border payments and financial applications.
The integration also provides EURCV with access to Stellar’s DEX and its broad network of asset managers, financial institutions, and traditional finance entities.
Compliance with regulatory requirements
EURCV is one of the few stablecoins which fully complies with MiCA and offers investors more transparency and security. By aligning with Europe’s evolving digital asset framework, the stablecoin is expected to drive further institutional adoption.
Guillaume Chatain is the chief revenue officer of SG-FORGE.
“Our integration with Stellar bridges traditional finance with digital assets. Stellar’s strong industry connections and technical capabilities align with our mission to expand stablecoin adoption within the financial system.”
Denelle Dixon, CEO of the Stellar Development Foundation, called the partnership a “significant step forward in the evolution of digital payments,” highlighting how the collaboration offers businesses and individuals a more efficient way to store and transfer value across borders.
SG-FORGE’s expansion to Stellar demonstrates the growing interest of institutions in blockchain-based solutions. With major banks increasingly leveraging public blockchains for regulated digital assets, stablecoins like EURCV could play a central role in Europe’s future financial landscape.
The launch follows Societe Generale’s broader blockchain initiatives, including issuing green bonds and recent repo transactions on a public blockchain in collaboration with the French central bank.
