$ETH Techub News: SG Forge, a subsidiary of Société Générale, announced the upcoming launch of a new type of stablecoin called USD CoinVertible (USDCV) on Ethereum and Solana. Bank of New York Mellon (BNY) will serve as its reserve custodian.

SG Forge had previously launched the euro stablecoin EUR CoinVertible (EURCV) in April 2023.