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Societe Generale-FORGE, a subsidiary of Societe Generale Group specializing in cryptocurrency solutions, has announced plans to launch its new USD-backed stablecoin, the USD CoinVertible (USDCV), on the Ethereum and Solana blockchains. Trading is set to begin in early July 2025, offering institutional-grade stability to the growing global stablecoin market.

USDCV: A USD-Backed Stablecoin for Institutional and Retail Use

The USD CoinVertible will be the second stablecoin issued by Societe Generale-FORGE, following the successful release of its euro-backed stablecoin, the EUR CoinVertible, on the Stellar blockchain. With the launch of USDCV, clients will gain the ability to conduct immediate transactions in both USD and EUR, providing greater flexibility for institutional, corporate, and retail investors alike.

Much like its predecessor, the USD CoinVertible will be backed by real-world assets. The collateral composition and reserves supporting the stablecoin will be publicly disclosed on the SG-FORGE website, with daily updates to ensure transparency. The Bank of New York Mellon Corporation has been selected as the reserve custodian for the stablecoin, further emphasizing the institutional-grade backing of the token.

Compliance and Trading Availability

While the USDCV stablecoin is USD-backed, it will not be available for trading in the United States. This limitation arises because the token has not been registered under the U.S. Securities Act of 1933. As a result, USDCV cannot be offered, sold, pledged, or transferred to U.S. customers unless in compliance with applicable regulations or through approved offshore transactions.

In contrast, EU-based customers will have full access to trade the USD CoinVertible. The token is compliant with Europe’s Markets in Crypto-Assets (MiCA) regulations, and Societe Generale-FORGE is licensed as a stablecoin issuer under the Electronic Money Institution by the French ACPR (Autorité de Contrôle Prudentiel et de Résolution).

Driving Stablecoin Innovation

Jean-Marc Stenger, CEO of Societe Generale-FORGE, emphasized the importance of launching a USD-backed stablecoin to meet client demands and drive innovation in the stablecoin sector. He noted that the stablecoin market remains predominantly USD-denominated, making this new offering a logical step for the company.

“The stablecoin market remains largely U.S. dollar denominated. This new currency will enable our clients, either institutions, corporates, or retail investors, to leverage the benefits of an institutional-grade stablecoin,” said Stenger.

Previous Milestones and Future Plans

In February 2024, Societe Generale-FORGE issued its first euro-backed stablecoin, the EUR CoinVertible, on the Stellar blockchain. This marked the company’s entry into the stablecoin market. Additionally, in November 2024, the firm announced plans to expand its stablecoin portfolio with a token launch on the XRP ledger.

With the upcoming launch of USD CoinVertible on Ethereum and Solana, Societe Generale-FORGE continues to establish itself as a leader in providing compliant, transparent, and reliable stablecoin solutions for global markets. The integration of these stablecoins into diverse blockchain networks highlights the company’s commitment to offering versatile financial tools for its clients.

Key Takeaways for Investors

  • Launch Date: Trading for USD CoinVertible is expected to commence in early July 2025.
  • Blockchain Networks: The stablecoin will be available on Ethereum and Solana.
  • Transparency: Collateral details and reserves will be updated daily on the SG-FORGE website.
  • EU Accessibility: Fully compliant with MiCA regulations, the stablecoin will be available for trading across the European Union.
  • Institutional Backing: Reserves will be managed by the Bank of New York Mellon Corporation.

As the cryptocurrency market continues to evolve, the introduction of institutional-grade stablecoins like USD CoinVertible provides investors with a secure and transparent option for digital asset transactions. Stay informed about the latest developments in the crypto space to make well-informed investment decisions.

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