Société Générale launches US dollar stablecoin on Ethereum and Solana
Société Générale’s crypto arm launches its USDCV stablecoin on Ethereum and Solana, with BNY as custodian and a global rollout aimed at trading and settlement.
Société Générale-Forge, the crypto arm of French financial services company Société Générale, has launched a new US dollar-pegged stablecoin.
According to a June 10 announcement, the stablecoin, dubbed USD CoinVertible (USDCV), will be issued on the Ethereum and Solana blockchains. United Kingdom-based financial services firm BNY will act as the custodian for the assets backing the stablecoin.
The announcement follows the firm’s April 2023 launch of its euro-pegged stablecoin EUR CoinVertible (EURCV) for institutional customers.