French banking giant Societe Generale’s digital asset division, SG-FORGE, has expanded its euro-backed stablecoin, EUR CoinVertible (EURCV), to the Stellar blockchain. The move strengthens the firm’s multichain strategy while ensuring compliance with the European Union’s Markets in Crypto-Assets (MiCA) regulation.
Expanding EURCV’s Reach with Stellar
Initially launched on the Ethereum blockchain, EURCV’s deployment on Stellar aims to enhance its scalability and efficiency. Stellar’s high-speed, low-cost transaction capabilities make it an ideal network for cross-border payments and financial applications. The expansion is a strategic step in advancing the adoption of regulated digital assets within the European financial ecosystem.
SG-FORGE selected Stellar for its robust infrastructure, fast settlement times, and low transaction fees, further solidifying EURCV’s utility in the digital finance space. The integration also grants EURCV access to Stellar’s decentralized exchange (DEX) and its extensive network of asset managers, financial institutions, and traditional finance entities.
Regulatory Compliance and Institutional Adoption
EURCV is among the first stablecoins to fully comply with MiCA, ensuring transparency and security for institutional investors. By aligning with Europe’s evolving digital asset regulatory framework, SG-FORGE is reinforcing its commitment to building compliant financial solutions on public blockchains.
Guillaume Chatain, Chief Revenue Officer of SG-FORGE, emphasized the importance of this integration, stating:
“Our integration with Stellar bridges traditional finance with digital assets. Stellar’s strong industry connections and technical capabilities align with our mission to expand stablecoin adoption within the financial system.”
Denelle Dixon, CEO of the Stellar Development Foundation, also highlighted the partnership’s significance, noting that it represents a major step forward in the evolution of digital payments. She emphasized how the collaboration provides businesses and individuals with an efficient way to store and transfer value across borders.
SocGen’s Broader Blockchain Strategy
The launch of EURCV on Stellar is part of Societe Generale’s wider blockchain initiatives. The bank has been actively exploring blockchain-based financial solutions, including issuing green bonds and conducting repo transactions on a public blockchain in collaboration with the French central bank.
With major banks increasingly leveraging blockchain technology for regulated digital assets, the expansion of EURCV onto Stellar underscores the growing institutional interest in blockchain-based financial solutions. As Europe moves towards greater regulatory clarity in the digital asset space, stablecoins like EURCV are expected to play a crucial role in the region’s financial landscape.
