Listen, friend, are you aware that the French banking giant Société Générale is preparing for a rather bold step in the world of cryptocurrencies? Their subsidiary SG Forge, which is already known for its experiments with blockchain, is going to launch the world's first dollar-denominated stablecoin issued by a bank, and even on the public Ethereum platform.
What does it mean? Imagine a large bank, not a fintech startup like Circle or Tether, but a real giant of the European banking system, launching a token pegged to the dollar, which will exist in an open blockchain. That is, anyone who meets regulatory requirements will be able to use it — not like JPMorgan's JPM Coin, which lives in a closed system and is accessible only to a select few, but a truly open and verifiable asset.
This is not the first experience for SG Forge. Last year, they released EURCV, a stablecoin pegged to the euro. But, as it turned out, the euro-stablecoin market is still a narrow niche: only 300 million euros in circulation, of which 40 million is their own token. Compare it with the dollar, where the total market is already approaching 250 billion dollars! Therefore, it is not surprising that the bank decided to enter the dollar market.
Interestingly, this step coincided with how the stablecoin market is moving into a new phase. Financial companies like Stripe, Visa, and MasterCard are increasingly introducing tokens into their payment processes, and lawmakers in the United States are beginning to develop clear regulatory frameworks. Everything suggests that stablecoins are becoming not just a fashion, but a part of the future financial infrastructure.
Now, with the launch of SG Forge's dollar stablecoin, a regulated European bank is entering the game, which is able to offer a more transparent and secure alternative to the same USDC and USDT. Especially in the context of growing institutional demand for tokenized dollar liquidity, for example, for settlements, trading or DeFi applications.
So, my friend, a logical question arises.:
If even the largest banks are starting to switch to stablecoins en masse, isn't it time for us to seriously think about how they will change our financial lives?