Societe Generale-FORGE (SG-FORGE), the Societe Generale Group's subsidiary dedicated to cryptoassets, licensed as a digital asset service provider (DASP) with the Autorité des Marchés Financiers (AMF), announces the listing of its
EUR stablecoin issued on the Ethereum public blockchain EUR CoinVertible (or EURCV) on the crypto exchange
Bitstamp.
With this listing, SG-FORGE intends to facilitate access to EURCV. While the regulatory framework related to digital assets at European level will be modified by the upcoming European digital assets regulations MiCA and Pilot Regime, EUR CoinVertible, in accordance with the French legal framework applicable to digital assets, aims to meet growing customer demand for:
- a robust settlement and store-of-value asset for on-chain transactions;
- an innovative solution for cash management and cash pooling activities;
- enhanced collateral management.
The full version of the EUR CoinVertible white paper is available
here.
With this listing, investors in the cryptoasset ecosystem as well as traditional financial markets participants will be able to operate transactions based on the same stable digital asset.
"We are delighted to see EUR CoinVertible listed on the international exchange platform Bitstamp. With this listing, SG-FORGE offers the opportunity to the crypto ecosystem to diversify its positions and gain access to a robust, stable asset built on Societe Generale’s regulatory and structuring expertise. This is an important step towards widespread adoption of our stablecoin."
Jean-Marc Stenger, Chief Executive Officer, SG-FORGE
“As the first EUR stablecoin to be issued by a fully regulated subsidiary of a global bank, this is an exciting moment for our industry as we move towards our mission of mainstream adoption of crypto. Stablecoins bridge the gap between traditional fiat currencies and cryptocurrencies – offering the best of both worlds due to their stability and on-chain feature set – whilst also supporting our goal of increased financial inclusion.
“This partnership with Societe Generale-FORGE is the next step in building markets beyond the current dominance of USD-backed stablecoins. We are privileged to have been chosen as the first crypto exchange to list EURCV and we are excited to see how adoption unfolds”.
Jean-Baptiste Graftieaux, CEO of Bitstamp 