{"id":828603,"date":"2025-02-21T08:11:45","date_gmt":"2025-02-21T14:11:45","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/21\/french-banking-giant-socgens-unit-to-expand-its-euro-backed-stablecoin-to-stellar\/"},"modified":"2025-02-21T08:11:45","modified_gmt":"2025-02-21T14:11:45","slug":"french-banking-giant-socgens-unit-to-expand-its-euro-backed-stablecoin-to-stellar","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/02\/21\/french-banking-giant-socgens-unit-to-expand-its-euro-backed-stablecoin-to-stellar\/","title":{"rendered":"French banking giant SocGen\u2019s unit to expand its euro-backed stablecoin to Stellar"},"content":{"rendered":"
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\"French French banking giant SocGen\u2019s unit to expand its euro-backed stablecoin to Stellar<\/span> Assad Jafri \u00b7<\/span> 12 hours ago<\/span> \u00b7 2 min read<\/span> <\/span> <\/span> <\/span> <\/span><\/p>\n

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SG-FORGE said it chose Stellar due to several advantages, including its high scalability, fast settlement times, and low transaction fees.<\/p>\n

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2 min read<\/span><\/p>\n

Updated:<\/span> Feb. 21, 2025 at 8:14 am UTC<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n

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\"French<\/p>\n

Cover art\/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.<\/p>\n<\/div>\n<\/div>\n

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French lender Societe Generale\u2019s<\/a> unit SG-FORGE launched its euro-backed stablecoin, EUR CoinVertible (EURCV), on the Stellar<\/a> blockchain, expanding its multichain strategy and reinforcing compliance with the EU\u2019s Markets in Crypto-Assets (MiCA<\/a>) regulation.<\/p>\n

The move aims to provide businesses and financial institutions with a secure, transparent, and scalable digital euro option, leveraging Stellar\u2019s blockchain infrastructure for faster, low-cost transactions, according to the Feb. 20 announcement<\/a>.<\/p>\n

Expanding to Stellar<\/h2>\n

EURCV\u2019s deployment on Stellar marks a significant step in the evolution of regulated digital assets in Europe, as it joins a growing ecosystem of financial institutions embracing blockchain technology.<\/p>\n

The stablecoin was initially launched on Ethereum (ETH<\/a>) and will now benefit from Stellar\u2019s high-speed, low-cost transaction capabilities.<\/p>\n

SG-FORGE said it chose Stellar as the next network for its stablecoin due to several advantages, including its high scalability, fast settlement times, and low transaction fees, which enhance EURCV\u2019s utility for cross-border payments and financial applications.<\/p>\n

The integration also provides EURCV with access to Stellar\u2019s DEX and its broad network of asset managers, financial institutions, and traditional finance entities.<\/p>\n

Regulatory compliance<\/h2>\n

As one of the first stablecoins to fully comply with MiCA, EURCV is designed to meet strict regulatory standards, offering investors greater transparency and security. By aligning with Europe\u2019s evolving digital asset framework, the stablecoin is expected to drive further institutional adoption.<\/p>\n

SG-FORGE chief revenue officer Guillaume Chatain said:<\/p>\n

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\u201cOur integration with Stellar bridges traditional finance with digital assets. Stellar\u2019s strong industry connections and technical capabilities align with our mission to expand stablecoin adoption within the financial system.\u201d<\/strong><\/p>\n<\/blockquote>\n

Denelle Dixon, CEO of the Stellar Development Foundation, called the partnership a \u201csignificant step forward in the evolution of digital payments,\u201d highlighting how the collaboration offers businesses and individuals a more efficient way to store and transfer value across borders.<\/p>\n

SG-FORGE\u2019s expansion onto Stellar illustrates the growing institutional interest in blockchain-based financial solutions. With major banks increasingly leveraging public blockchains for regulated digital assets, stablecoins like EURCV could play a central role in Europe\u2019s future financial landscape.<\/p>\n

The launch follows Societe Generale\u2019s broader blockchain initiatives<\/a>, including issuing green bonds and recent repo transactions on a public blockchain in collaboration with the French central bank.<\/p>\n

Mentioned in this article<\/h6>\n
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\"Blocscale\"<\/a><\/p>\n<\/div>\n

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Read More<\/a>
\n Assad Jafri<\/p>\n","protected":false},"excerpt":{"rendered":"

French banking giant SocGen\u2019s unit to expand its euro-backed stablecoin to Stellar Assad Jafri \u00b7 12 hours ago \u00b7 2 min read SG-FORGE said it chose Stellar due to several advantages, including its high scalability, fast settlement times, and low transaction fees. 2 min read Updated: Feb. 21, 2025 at 8:14 am UTC Cover art\/illustration<\/p>\n","protected":false},"author":1,"featured_media":828604,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23465,890],"tags":[],"class_list":{"0":"post-828603","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-banking","8":"category-french"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=828603"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/828603\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/828604"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=828603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=828603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=828603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}