According to the June 10, 2025, press release, Societe Generale- Forge (SG-FORGE), the crypto subsidiary of Societe Generale, launches a new stablecoin, the USD CoinVertible on Ethereum and Solana blockchain.
The stablecoin will be listed under the ticker USDCV, and the stablecoin will enable users instant 24/7 conversion between traditional currency and stablecoins.
Following the announcement, the Chief Executive Officer of SG-Forge said, “ After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a US Dollar version (USDCV) was the obvious next step for Societe Generale–FORGE as market adoption of stablecoins is growing exponentially.”
It is noteworthy that USDCV is the 2nd stablecoin issued by SG- FORGE after EUR CoinVertible (EURCV), launched in April 2023.
Also, the Chief Executive Officer of Societe Generale, Jean-Marc Stenger, said, “ After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a US Dollar version (USDCV) was the obvious next step for Societe Generale–FORGE, as market adoption of stablecoins is growing exponentially. The stablecoin market remains largely US dollar-denominated. This new currency will enable our clients, either institutions, corporates, or retail investors, to leverage the benefits of an institutional-grade stablecoin.”
A quick brief of EURCV
EUR CoinVertible is a Euro-pegged stablecoin issued by Societe Generale- Forge. It is designed to bridge traditional finance and digital assets. EURCV is fully backed by euro cash reserves, ensuring a 1:1 redemption ratio.
EURCV is primarily aimed at institutional clients for use of cross-border payments, DeFi, and on-chain transactions, offering stability, efficiency, and reduced volatility.
According to the data available on CoinMarketCap, EURCV is priced at $1.14 with a volume of $599.02k and has a market capitalization of $47.73 million.
Data from EtherScan(dot)Io, EURCV’s maximum total supply is 41,806,375 EURCV, and the number of holders is 53, with EURCV/EUR the most traded pair, followed by EURCV/USDT, ETH/EURCV, and SOL/EURCV.
EURCV’s highest trading price is $1.16, recorded on April 21, 2025, and traded lowest at $1.01 on November 22, 2024.
Are stablecoins aiming to reach $500B by 2025 end?
With time, the usage of stablecoins has reached a new high, which has helped the wider stablecoin market to reach a new milestone in terms of market cap, and till writing, the whole market of stablecoins was valued at $252 billion.
There are different types of stablecoins available in the market, but USDT stands at the top of the list in both market cap and trading volume, followed by USDC in cap.
Some of the available reports argued that the stablecoin market is expected to reach $500 billion by the end of this year, and the skyrocketing popularity of Bitcoin and other cryptos has fueled the demand for stablecoins.
Over 55% of the stablecoin market is still dominated by USDT, and Bitcoin remains the most preferred crypto. Since the beginning of this year, the minting of stablecoins has grown as the volume of the market has succeeded in crossing $200 billion several times in 2025.
