Societe Generale-FORGE Launches MiCA-Compliant EUR-Backed Stablecoin (EURCV) on the Stellar Network

Recently, Societe Generale-FORGE, a subsidiary of Societe Generale Group and licensed investment firm, has launched its EUR-backed stablecoin (EURCV) on the Stellar network, offering users and businesses a secure, transparent, and scalable digital euro stablecoin.

Investment firm Societe Generale-FORGE has launched its EUR-backed stablecoin on the Stellar network. The stablecoin, called EURCV CoinVertible, is now available to users and businesses on the Stellar blockchain. It is claimed to be one of the first fully MiCA-compliant Euro-backed stablecoins.

Being MiCA-compliant, EURCV CoinVertible is designed to offer users a trusted and transparent digital euro stablecoin. At the same time, Stellar’s fast and cost-efficient network enhances cross-border transactions and financial services.

The stablecoin is powered by Stellar’s advanced blockchain technology, which offers several key benefits for SG-FORGE's stablecoin. Stellar can handle thousands of transactions per second, making it highly scalable for large-volume operations. Transactions on Stellar are also fast, completing within seconds, which is crucial for real-time financial use.

Moreover, Stellar's low transaction costs, which are a fraction of a cent, make the stablecoin ideal for small payments and cross-border transfers. Stellar's strong support for asset tokenization also aligns with SG-FORGE's needs for stablecoin issuance.

The Stellar network also features a built-in decentralized exchange and support for asset tokenization, which makes it easy to integrate EURCV CoinVertible into various financial services.

Denelle Dixon, CEO at Stellar Development Foundation, said that this development marks a significant step forward in the evolution of digital payments. Through this integration, users will have a more efficient way to store and transfer value across borders, making it easier for individuals and businesses to adopt this new form of money.

This integration will not only bring EURCV to traditional finance users but also boost XLM’s role in decentralized finance and the Web3 space. A key focus of the partnership will be asset tokenization, which is growing rapidly, especially with major players like BlackRock, Fidelity, and Franklin Templeton entering the field.

SG-FORGE, a subsidiary of Societe Generale Group, is licensed by the Autorité de Contrôle Prudentiel et de Résolution as an electronic money institution and by the Autorité des Marchés Financiers as a digital asset service provider.