Wu said that Société Générale-Forge, a cryptocurrency subsidiary of Société Générale, announced the launch of a new stablecoin pegged to the US dollar. This stablecoin is named USD CoinVertible (USDCV) and will be issued on the Ethereum and Solana blockchains. The UK financial services company BNY will act as the custodian for the assets backing this stablecoin.