📰 Société Générale announces stablecoin pegged to the dollar

📅 June 15, 2025

🌐 Source: Reuters

🧠 Content:

The French bank Société Générale, through its subsidiary SG‑FORGE, announced the launch of a stablecoin called USD CoinVertible, backed by the US dollar. Expected to start trading in July, the cryptocurrency will operate on the Ethereum and Solana networks, with asset custody entrusted to BNY Mellon. This initiative marks the first issuance of a stablecoin by a major European bank and aims to support trading operations, international payments, currency exchange, and collateral management — positioning the bank as a competitor to established issuers like Tether, which has $155 billion in tokens in circulation.