Société Générale launched the dollar stablecoin $USDCV on Ethereum and Solana, following the release of the euro-pegged stablecoin EUR CoinVertible ($EURCV) in April 2023.
On June 7, Deutsche Bank, Germany's largest bank, is researching stablecoins and tokenized deposits, considering options such as issuing its own token or joining industry initiatives.
The reasons major financial institutions are entering the stablecoin space include:
1. Gradual clarification of regulatory policies, with the United States, Hong Kong, the European Union, and others successively introducing their own stablecoin regulatory bills.
2. The immense market potential brought by the efficient, low-cost payment capabilities of stablecoins, attracting traditional financial institutions to share in the profits.
3. The rapid development of the cryptocurrency industry and the innovative development of emerging payment technologies, prompting traditional financial institutions to enter the stablecoin space and seize digital financial market share.
