SG-FORGE to Launch MiCAR-Compliant EURCV Stablecoin on Stellar Blockchain
Brief news summary
Societe Generale FORGE (SG-FORCE) is preparing to launch its MiCAR-compliant stablecoin, EURCV, on the Stellar blockchain, following its initial issuance on Ethereum. Future plans include deployments on Solana and the XRP Ledger. Guillaume Chatain, SG-FORGE’s Chief Revenue Officer, emphasized the significance of this initiative for bridging traditional finance and the digital asset market, highlighting Stellar’s strong ties with asset managers and financial institutions. Stellar's impact in the payments sector is evident through its partnerships, including Franklin Templeton, which utilizes Stellar for its FOBXX money market fund, managing around $392 million—nearly two-thirds of its assets are on the Stellar platform. Currently, EURCV has a market capitalization of €41 million, though there is a notable concentration, with 90% of the stablecoin held in just four wallets. SG-FORGE’s approach mirrors that of major players like PayPal and Franklin Templeton, placing it among a select group authorized to issue stablecoins in Europe and underscoring its significant growth potential in the digital asset market.Societe Generale FORGE (SG-FORGE) has announced its intention to launch the MiCAR-compliant stablecoin EURCV on the Stellar blockchain. Initially, the stablecoin was introduced on Ethereum, which has been its exclusive blockchain to date. However, SG-FORGE also aims to issue EURCV on Solana and the XRP Ledger in the future. Guillaume Chatain, Chief Revenue Officer at SG-FORGE, remarked, “Our forthcoming integration with Stellar marks a crucial step in connecting traditional finance with the digital asset ecosystem. The Stellar framework and its well-established relationships with asset managers and TradFi institutions are in perfect synergy with our goal of enhancing stablecoin adoption in the financial sector. ” Stellar, founded by a former Ripple executive, has been focused on payment solutions from its inception. Several years ago, IBM utilized Stellar to create a global payment network known as IBM World Wire, although it was potentially ahead of its time. In terms of current institutional interest, one of Stellar’s major proponents is asset management firm Franklin Templeton. The company launched its FOBXX money market fund on Stellar, which remained its only blockchain for several years.
Recently, FOBXX has broadened its reach to include six additional blockchains; however, Stellar still accounts for nearly two-thirds of its activity, with approximately $392 million in BENJI (FOBXX) held on the blockchain and 870 clients from Franklin Templeton. Meanwhile, EURCV is still in its early stages, boasting a market capitalization of €41 million ($43 million). Four wallets hold over 90% of the total supply, with three of those wallets containing €25 million and remaining inactive. Nevertheless, expanding to other blockchains has proven beneficial for projects like the PayPal stablecoin and Franklin Templeton’s BENJI, making the EURCV expansion a logical move. SG-FORGE is among just ten firms authorized to issue stablecoins in Europe, including three based in France. The remaining institutions are:
Watch video about
SG-FORGE to Launch MiCAR-Compliant EURCV Stablecoin on Stellar Blockchain
Try our premium solution and start getting clients — at no cost to you
