Societe Generale-FORGE to expand stablecoin to Stellar
- Societe Generale-FORGE will launch its EUR CoinVertible stablecoin on the Stellar network.
- SG-FORGE first deployed EURCV on Ethereum and plans expansion to XRP Ledger.
Societe Generale-FORGE (SG-FORGE) has announced the expansion of its EUR CoinVertible stablecoin (EURCV) to the Stellar blockchain.
The SG-FORGE team launched the EURO-backed in 2023, deploying it on Ethereum. It then set to expand it to Solana and XRP Ledger. However, it said on Thursday that the stablecoin will now go live on the cross-border payments network.
MiCA-compliant stablecoin comes to Stellar
The launch brings the MiCA-compliant EURCV to Stellar.
SG-FORGE one of the 10 stablecoin issuers to get the greenlight to issue their tokens in the EU. MiCA rules went into full effect on December 30, 2024.
A fully compliant Euro stablecoin powered by Stellar. The Societe Generale-FORGE EUR stablecoin has arrived!https://t.co/mfWearB6HE
— Stellar (@StellarOrg) February 20, 2025
Deploying the euro-pegged stablecoin on Stellar will allow for its integration into the global financial ecosystem.
“Our upcoming integration with Stellar represents a pivotal moment in bridging traditional finance with the digital asset ecosystem. Stellar’s approach and established connections with asset managers and TradFi institutions align perfectly with our mission to achieve broader adoption of stablecoins within the financial system,” Guillaume Chatain, chief revenue officer at SG-FORGE, said.
Stellar’s blockchain technology features have seen it attract partnerships and integrations from acoss the financial and tech markets. One of the earliest is the collaboration with IBM that saw the company tap Stellar for its IBM World Wire project.
While this didn’t pick up, Stellar has received fresh attention after asset manager Franklin Templeton first launched its OnChain US Government Money Fund on the network.
Although FOBXX has since expanded to six other networks, including Ethereum, Polygon, Base, and Aptos, the majority of the $586 million money market fund remains on the XLM network.
