TradersLeague Bank "Société Générale" becomes the first bank to launch a stablecoin linked to the dollar. Société Générale announced, through its digital arm "SG-FORGE", the launch of a new stablecoin backed by the dollar called "USD CoinVertible", making it the first major banking institution to issue a publicly tradable dollar-pegged stablecoin. The coin is set to be launched in July on the Ethereum and Solana networks. This move comes in the context of a growing expansion in the stablecoin market, led by companies like Tether, in the absence of regulated banking entities in this field. "Jean-Marc Stenger", CEO of "SG-FORGE", explained that there is a clear market demand for a dollar-pegged stablecoin that enjoys regulatory oversight from a trusted banking entity. The new coin will be classified as electronic currency and will be subject to the European "MiCA" law that began to be implemented in 2023, at a time when Tether does not have a license to operate under this law within the European Union. It is worth noting that "Société Générale" previously launched a euro-pegged stablecoin in 2023, but it did not achieve significant adoption. The reserves for the new coin will be overseen by the New York Bank, initially held in cash accounts, before being directed later to yield-generating investments.#Tradersleague $ETH
