Societe Generale-FORGE Launches EUR CoinVertible Stablecoin on Stellar Network
- SG-FORGE expands EURCV stablecoin to Stellar blockchain
- EURCV initially deployed on Ethereum, plans for XRP Ledger
Societe Generale-FORGE (SG-FORGE) has revealed its latest move to launch the EUR CoinVertible stablecoin (EURCV) on the Stellar blockchain.
EURCV Expansion
The SG-FORGE team initially introduced the EURO-backed stablecoin in 2023 on Ethereum. They have now announced plans to extend its availability to Solana and XRP Ledger. However, in a recent statement, the stablecoin will now be live on the Stellar network.
MiCA-Compliant Stablecoin on Stellar
The launch marks the introduction of the MiCA-compliant EURCV on Stellar.
SG-FORGE is among the ten stablecoin issuers authorized to distribute their tokens within the EU. MiCA regulations took full effect on December 30, 2024.
A fully compliant Euro stablecoin powered by Stellar. The Societe Generale-FORGE EUR stablecoin has arrived! https://t.co/mfWearB6HE
— Stellar (@StellarOrg) February 20, 2025
Integration into Global Financial Ecosystem
Deploying the euro-pegged stablecoin on Stellar will facilitate its integration into the global financial ecosystem.
Guillaume Chatain, chief revenue officer at SG-FORGE, stated, “Our upcoming integration with Stellar represents a pivotal moment in bridging traditional finance with the digital asset ecosystem. Stellar’s approach and established connections with asset managers and TradFi institutions align perfectly with our mission to achieve broader adoption of stablecoins within the financial system.”
Stellar’s Blockchain Technology
Stellar’s blockchain technology has attracted partnerships and integrations across financial and tech markets. Notably, the collaboration with IBM for the IBM World Wire project showcased Stellar’s capabilities.
Recent attention on Stellar increased after asset manager Franklin Templeton launched its OnChain US Government Money Fund on the network. Despite expansions to other networks, the majority of the $586 million money market fund remains on the XLM network.
