According to Cointelegraph, Societe Generale’s digital assets division, SG-FORGE, has expanded its euro-pegged stablecoin, EUR CoinVertible (EURCV), to the XRP Ledger—marking its third blockchain deployment after Ethereum and Solana. Leveraging Ripple’s custodial infrastructure, the stablecoin may be integrated into Ripple’s products as collateral for trading. Backed 1:1 by bank cash deposits or high-quality securities, EURCV currently has a circulating supply of approximately 70.51 million tokens, aiming to enhance institutional access to euro-backed tokens while complying with the EU’s MiCA regulation. This move follows a SWIFT pilot testing EUR CoinVertible for tokenized bond settlement and exchange, advancing the development of euro stablecoins to counter the dominance of the U.S. dollar.
French Bank Group Expands EURCV Stablecoin to XRP Ledger
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Summary
Société Générale's SG-FORGE has launched its EURCV stablecoin on the XRP Ledger, following its releases on Ethereum and Solana. EURCV is fully backed 1:1 by cash or high-quality assets, with 70.51 million in circulation. This move supports institutional adoption and aligns with the EU’s MiCA regulations. A SWIFT pilot tested EURCV for tokenized bond settlements, aiming to expand the use of euro-backed tokens in global markets. Ethereum news remains pivotal as multi-chain strategies continue to gain momentum.
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