Ethereum

Onyx

Forge

Societe Generale’s (GLE) crypto division, SG Forge, has introduced a stablecoin pegged to the euro (EUR) on Ethereum, saying it is the first such asset deployed on a public blockchain. 
EUR CoinVertible (EURCV) will be offered to institutional clients as a means of bridging the gap between traditional capital markets and digital assets, the Paris-based bank’s unit said on its website on Thursday. 
SG Forge said it is addressing increasing demand from clients for a robust settlement asset for on-chain transactions, as well as a means for on-chain liquidity funding and refinancing. 
While U.S. banking giant JPMorgan’s in-house stablecoin JPM coin has been in use since 2020 as a settlement token between financial institutions, it trades on the bank’s internal Onyx network, not a public blockchain. 
The Societe Generale division won registration from France’s Autorité des Marchés Financiers (AMF) to offer cryptocurrency trading and custody services last September, in a sign of the gathering momentum of institutional adoption of digital assets in France. 
The post <a rel="nofollow" href="https://www.unlock-bc.com/100647/societe-generale-unveils-euro-stablecoin-on-ethereum/">Societe Generale Unveils Euro Stablecoin on Ethereum</a> appeared first on <a rel="nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

Societe Generale Unveils Euro Stablecoin on Ethereum

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