Foreign media report that European banks have moved beyond the experimentation phase in adopting blockchain, with focus now shifting to which networks can support compliant financial activities. SG-FORGE, the digital assets subsidiary of Société Générale, has expanded its euro-stablecoin EURCV to multiple public blockchains, including the XRP Ledger, Ethereum, Stellar, and Solana.
EURCV transitions to multi-chain issuance
The article argues that the significance of this move lies not only in the addition of new issuance channels but also in banks beginning to run regulated digital funds on public blockchains. The selection of stablecoin issuance networks is also shifting from single-chain deployment to multi-chain layouts.
SG-FORGE does not stake on a single network but instead covers multiple blockchains simultaneously, with a focus on flexibility, system resilience, and cross-chain interoperability. EURCV is regarded as one of the representative projects among European compliant euro stablecoins.
- Covered: XRPL, Ethereum, Stellar, Solana
- The issuer is SG-FORGE, a subsidiary of Société Générale.
- The core focus is compliant stablecoin deployment across multiple chains.
MiCA is driving banks onto the blockchain.
The article argues that the European Union’s Markets in Crypto-Assets Regulation (MiCA) is a key backdrop to this trend. The regulation provides clearer, unified rules for stablecoin issuance, reserve management, and compliance requirements, increasing banks’ confidence in advancing related products.
In this environment, banks are more likely to integrate blockchain products into their existing financial systems rather than leaving them at the proof-of-concept stage. The article predicts that over the next 18 months, the speed of blockchain adoption by banks, the networks they choose, and the extent of integration with traditional systems will be key areas of focus.
XRPL enters the institutional candidate list
The article specifically mentions the XRP Ledger, noting its inclusion on the list of issuance networks for EURCV as a sign of growing institutional recognition for XRPL in payment and settlement scenarios. The reasons cited include faster settlement, lower on-chain costs, and better suitability for liquidity management.
However, the article emphasizes that large financial institutions are not betting on a single public blockchain, but rather distributing their operations across a few networks that can simultaneously meet operational and compliance requirements. Based on this assessment, XRPL’s inclusion is more akin to part of a multi-chain financial infrastructure.