Crypto Division of Societe Generale Introduces USD-Linked Stablecoin on Ethereum and Solana Platforms

Societe Generale-FORGE, the digital asset offshoot of Societe Generale, is preparing to release a new USD-pegged stablecoin, USD CoinVertible (USDCV), on the Ethereum and Solana blockchains. The move represents the company's ongoing efforts to intertwine traditional finance and decentralized systems, with the Bank of New York Mellon acting as the reserve custodian.

The USD CoinVertible follows the launch of the EUR CoinVertible, a euro-backed stablecoin, with both designed to facilitate round-the-clock fiat-to-stablecoin conversions. The tokens, compliant with the EU's MiCA regulatory framework, are set to be available through exchanges, brokers, and payment platforms for institutional, corporate, and retail clients, although they won't be accessible to US users.