Tuesday, 10 June, 2025

Societe Générale to Launch “USD CoinVertible” Dollar‑Pegged Stablecoin in July

French bank Societe Générale via its crypto arm SG‑FORGE will debut a dollar‑pegged stablecoin named USD CoinVertible (USDCV) on Ethereum and Solana in July. BNY Mellon will serve as custodian of the reserves. This marks the first major European bank venture into USD stablecoins, following its 2023 euro-pegged EUR CoinVertible. USDCV aims to enhance crypto trading, cross‑border payments, FX transactions, and collateral management.