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.
