{"id":849987,"date":"2025-05-21T09:11:34","date_gmt":"2025-05-21T14:11:34","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/21\/french-banking-giant-to-launch-worlds-first-bank-issued-dollar-stablecoin-on-ethereum\/"},"modified":"2025-05-21T09:11:34","modified_gmt":"2025-05-21T14:11:34","slug":"french-banking-giant-to-launch-worlds-first-bank-issued-dollar-stablecoin-on-ethereum","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/21\/french-banking-giant-to-launch-worlds-first-bank-issued-dollar-stablecoin-on-ethereum\/","title":{"rendered":"French banking giant to launch world\u2019s first bank-issued dollar stablecoin on Ethereum"},"content":{"rendered":"<div data-id=\"170658\" data-url=\"https:\/\/cryptobriefing.com\/dollar-stablecoin-launch-ethereum\/\">\n<section>\n<div>\n<p><a href=\"https:\/\/cryptobriefing.com\/defi\/\" rel=\"tag\"><br \/>\n                    DeFi                <\/a>\n                    <\/p>\n<\/div>\n<p><span><span><a href=\"https:\/\/cryptobriefing.com\/\">Home<\/a><\/span> \u00bb <span><a href=\"https:\/\/cryptobriefing.com\/defi\/\">DeFi<\/a><\/span> \u00bb <span aria-current=\"page\">French banking giant to launch world\u2019s first bank-issued dollar stablecoin on Ethereum<\/span><\/span>        <\/p>\n<div>\n<div>\n<p><span>by<\/span><\/p>\n<div>\n<p><a data-author_id=\"29816\" href=\"https:\/\/cryptobriefing.com\/team\/vivian-nguyen\/\" rel=\"author\">Vivian Nguyen<\/a><\/p>\n<\/div><\/div>\n<p><time datetime=\"2025-05-20T13:41:08+00:00\"><br \/>\n                        May. 20, 2025                    <\/time>\n                            <\/p>\n<\/p><\/div>\n<\/section>\n<section>\n<h2>Regulatory clarity, institutional demand, and new use cases are driving the next phase of stablecoin adoption.<\/h2>\n<\/section>\n<section>\n            <picture><source media=\"(min-width: 850px)\" ><img decoding=\"async\" fetchpriority=\"high\" src=\"http:\/\/cryptobriefing.com\/ed58ebd7-627b-487e-bf42-a376b9c59e82.jpg\" alt=\"French banking giant to launch world\u2019s first bank-issued dollar stablecoin on Ethereum\" title=\"http:\/\/cryptobriefing.com\/ed58ebd7-627b-487e-bf42-a376b9c59e82.jpg\">\n            <\/picture>\n        <\/section>\n<section>\n<section>\n<h3>Key Takeaways<\/h3>\n<ul>\n<li>Soci\u00e9t\u00e9 G\u00e9n\u00e9rale&#8217;s crypto subsidiary SG Forge is introducing the first bank-issued dollar stablecoin on Ethereum.<\/li>\n<li>The stablecoin launch targets institutional investors and taps into the $250 billion dollar stablecoin market.<\/li>\n<\/ul>\n<\/section>\n<section>\n<p>Share this article<\/p>\n<\/section>\n<p>        <?xml encoding=\"UTF-8\"><\/p>\n<p>SG Forge, the crypto and blockchain-dedicated arm of Soci\u00e9t\u00e9 G\u00e9n\u00e9rale, one of Europe\u2019s largest financial institutions, will soon launch a dollar-backed stablecoin on Ethereum, The Big Whale <a target=\"_blank\" href=\"https:\/\/en.thebigwhale.io\/article-en\/exclusive-sg-forge-to-launch-a-dollar-stablecoin-a-world-first-for-a-banking-group\" rel=\"noopener nofollow noreferrer\">reported<\/a> Tuesday, citing sources with knowledge of the matter.<\/p>\n<p>The move would make Soci\u00e9t\u00e9 G\u00e9n\u00e9rale the first global banking group to issue a dollar stablecoin on a public blockchain. According to the report, SG Forge also plans to expand the stablecoin to other networks, including Solana, after the initial launch.<\/p>\n<p>As of now, no major global banking group has yet widely issued a US dollar stablecoin on a public blockchain.<\/p>\n<p>JPMorgan Chase has already launched a dollar stablecoin called JPM Coin. However, it operates on a private, permissioned blockchain and is currently restricted to internal use by JPMorgan\u2019s clients and partners.<\/p>\n<p>The upcoming launch will mark SG Forge\u2019s second stablecoin initiative. The firm previously introduced EUR CoinVertible (EURCV) in April 2023 on Ethereum, a euro-denominated token aimed at institutional clients. That product laid the groundwork for SG Forge\u2019s approach to regulated digital assets but was euro-focused.<\/p>\n<p>With this new dollar stablecoin, SG Forge is shifting into a far larger and more competitive market.<\/p>\n<p>Initially targeted at institutional investors, the stablecoin aims to address growing demand in the European Union for secure, regulated access to dollar liquidity in tokenized form. SG Forge\u2019s e-money license under EU law, similar to that held by Circle, the issuer of USDC, allows it to operate such a product legally within the bloc.<\/p>\n<p>The launch comes as the stablecoin market continues to boom, with dollar-pegged tokens commanding a combined market cap of nearly $250 billion. In comparison, euro stablecoins remain a niche segment, with only \u20ac300 million in circulation\u2014\u20ac40 million of which belongs to SG Forge\u2019s EURCV.<\/p>\n<p>EURCV has been a success, but the bank has faced challenges scaling euro stablecoin adoption, especially under the EU\u2019s Markets in Crypto-Assets Regulation (MiCA). These rules, while offering legal clarity, impose stringent requirements on issuers, including high reserve thresholds and licensing hurdles.<\/p>\n<p>By contrast, the dollar stablecoin market has seen rapid innovation, with non-bank players like Circle and Tether dominating globally. SG Forge\u2019s entry introduces a new dynamic: a regulated, European banking institution offering a compliant alternative to US fintech issuers.<\/p>\n<p><html><body><\/p>\n<div class=\"ad-banner mrec-in-article\">\n<div class=\"code-block code-block-4 ai-track\" data-ai=\"WzQsIiIsIk1SRUMgSW4tYXJ0aWNsZSAtIDMwMHgyNTAiLCIiLDFd\" style=\"margin: 8px 0; clear: both; width: 300px; height: 250px;\">\n<div class=\"ai-rotate ai-unprocessed\" data-shares=\"WzEwMF0=\" style=\"position: relative;\">\n<div class=\"ai-rotate-option\" style=\"visibility: hidden;\" data-index=\"1\" data-name=\"U2V2aW8=\">\n<div style=\"width: 300px; height: 250px\">\n<script type=\"rocketlazyloadscript\" async data-rocket-src=\"https:\/\/cdn.adx.ws\/scripts\/loader.js\"><\/script><\/p>\n<div class=\"sevioads\" data-zone=\"e895191b-6d01-4021-992d-173ebfdf2d63\"><\/div>\n<p><script type=\"rocketlazyloadscript\">\n    window.sevioads = window.sevioads || [];\n    var sevioads_preferences = [];\n    sevioads_preferences[0] = {};\n    sevioads_preferences[0].zone = \"e895191b-6d01-4021-992d-173ebfdf2d63\";\n    sevioads_preferences[0].adType = \"banner\";\n    sevioads_preferences[0].inventoryId = \"c5700508-581b-472c-8fdd-a931cdbfc8e1\";\n    sevioads_preferences[0].accountId = \"1e47efc1-ec2d-4fca-a8b9-354e249e5095\";\n    sevioads.push(sevioads_preferences);\n<\/script>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><\/body><\/html><\/p>\n<h2>Regulatory clarity and institutional demand set stage for stablecoin breakout<\/h2>\n<p>The launch comes as stablecoins enter a new phase of adoption, driven by regulatory momentum, rising institutional interest, and expanding real-world use cases.<\/p>\n<p>In the US, proposed legislation like the <a target=\"_blank\" href=\"https:\/\/cryptobriefing.com\/genius-act-failure-senate-vote\/\" rel=\"\">GENIUS Act<\/a> signals growing political support for payment stablecoins, calling for stricter reserve backing and issuer oversight. Though not yet law, these efforts reflect a shift toward formalizing stablecoins within the traditional financial system.<\/p>\n<p>Meanwhile, fintech and traditional financial institutions are converging on stablecoins as key infrastructure. Stripe is acquiring stablecoin platforms, while Visa and MasterCard are rolling out stablecoin-based products, embedding digital dollars into mainstream payment systems.<\/p>\n<\/p>\n<section class=\"article-share\">\n<p>Share this article<\/p>\n<div class=\"social-icons\">\n          <button class=\"social-icon share\" data-href=\"https:\/\/x.com\/intent\/tweet?text=French+banking+giant+to+launch+world%E2%80%99s+first+bank-issued+dollar+stablecoin+on+Ethereum&#038;url=https%3A%2F%2Fcryptobriefing.com%2Fdollar-stablecoin-launch-ethereum%2F&#038;via=crypto_briefing\" aria-label=\"Share on x\"><br \/>\n        <?xml version=\"1.0\" encoding=\"UTF-8\"?><br \/>\n                <svg width=\"40px\" height=\"40px\" viewBox=\"0 0 40 40\" version=\"1.1\" xmlns:xlink=\"http:\/\/www.w3.org\/1999\/xlink\">\n                <g id=\"surface1\">\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 17.867188 0.148438 C 10.839844 0.878906 4.558594 5.507812 1.707031 12.054688 C -0.132812 16.28125 -0.441406 21.148438 0.867188 25.625 C 2.480469 31.214844 6.652344 35.933594 12.054688 38.292969 C 16.28125 40.132812 21.148438 40.4375 25.628906 39.132812 C 32.332031 37.199219 37.613281 31.695312 39.347656 24.851562 C 42.054688 14.132812 35.414062 3.171875 24.667969 0.613281 C 22.304688 0.0546875 20.226562 -0.09375 17.867188 0.148438 Z M 18.132812 12.535156 C 19.839844 14.800781 21.28125 16.667969 21.332031 16.667969 C 21.386719 16.667969 23.160156 14.800781 25.253906 12.535156 L 29.078125 8.398438 L 31.253906 8.398438 L 30.785156 8.894531 C 30.519531 9.171875 28.785156 11.054688 26.933594 13.066406 C 25.078125 15.078125 23.265625 17.039062 22.90625 17.398438 L 22.265625 18.078125 L 27.265625 24.734375 C 30.011719 28.398438 32.265625 31.441406 32.265625 31.492188 C 32.265625 31.558594 30.628906 31.601562 28.640625 31.601562 L 25 31.585938 L 21.613281 27.054688 C 19.28125 23.921875 18.1875 22.574219 18.078125 22.652344 C 18 22.71875 16.105469 24.761719 13.867188 27.1875 L 9.800781 31.601562 L 8.773438 31.601562 C 8.199219 31.601562 7.734375 31.574219 7.734375 31.535156 C 7.734375 31.492188 9.851562 29.171875 12.441406 26.386719 C 15.011719 23.601562 17.148438 21.265625 17.171875 21.226562 C 17.1875 21.171875 15.066406 18.28125 12.464844 14.800781 C 9.867188 11.332031 7.734375 8.464844 7.734375 8.441406 C 7.734375 8.414062 9.371094 8.398438 11.386719 8.398438 L 15.039062 8.398438 Z M 18.132812 12.535156 \" \/>\n                <path style=\" stroke:none;fill-rule:nonzero;fill:rgb(0%,0%,0%);fill-opacity:1;\" d=\"M 11.027344 10.1875 C 11.082031 10.28125 14.441406 14.785156 18.464844 20.171875 L 25.800781 29.988281 L 27.441406 30 C 28.453125 30 29.066406 29.945312 29.039062 29.867188 C 29.027344 29.800781 25.679688 25.292969 21.628906 19.867188 L 14.238281 10 L 12.585938 10 C 11.214844 10 10.933594 10.027344 11.027344 10.1875 Z M 11.027344 10.1875 \" \/>\n                <\/g>\n                <\/svg>      <\/p>\n<\/section>\n<\/div>\n<p><a href=\"https:\/\/cryptobriefing.com\/dollar-stablecoin-launch-ethereum\/\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><br \/>\n Vivian Nguyen<\/p>\n","protected":false},"excerpt":{"rendered":"<p>DeFi Home \u00bb DeFi \u00bb French banking giant to launch world\u2019s first bank-issued dollar stablecoin on Ethereum by Vivian Nguyen May. 20, 2025 Regulatory clarity, institutional demand, and new use cases are driving the next phase of stablecoin adoption. Key Takeaways Soci\u00e9t\u00e9 G\u00e9n\u00e9rale&#8217;s crypto subsidiary SG Forge is introducing the first bank-issued dollar stablecoin on<\/p>\n","protected":false},"author":1,"featured_media":849988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23465,890],"tags":[],"class_list":{"0":"post-849987","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\/849987","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=849987"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/849987\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/849988"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=849987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=849987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=849987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}