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Société Générale Launches USD #Stablecoin on #Ethereum and #Solana
French banking giant Société Générale-Forge launched USD CoinVertible ($USDCV) on Tuesday, marking its second stablecoin after the euro-pegged EURCV in April 2023.
The $USD-backed token will operate on #Ethereum and #Solana blockchains, with BNY serving as custodian for backing assets.
USDCV targets institutional, corporate, and retail investors for crypto trading, cross-border payments, and on-chain settlement applications.
Trading is expected to begin in July, though U.S.-based persons will be restricted from accessing both USDCV and EURCV.
The launch reflects growing institutional adoption of stablecoins for 24/7 settlement and real-time transaction processing in both dollars and euros.
