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Societe Generale Launches Stablecoin Pegged to the Dollar
- On June 10, 2025, Societe Generale announced it will launch USD CoinVertible, a dollar-backed stablecoin issued by its SG-FORGE subsidiary on Ethereum and Solana blockchains.
- This launch follows SG-FORGE's 2023 euro-based stablecoin and responds to growing institutional demand for regulated, MiCA-compliant digital currencies.
- USD CoinVertible will support crypto trading, cross-border payments, and collateral management, with reserves held in U.S. Treasuries and custodied by BNY Mellon.
- Tether leads the market with $155 billion in tokens, while Circle's shares soared 48% after going public on June 5, highlighting stablecoins' rising influence.
- Societe Generale's entry marks a major bank joining regulated dollar stablecoins, potentially accelerating regulatory clarity and expanding institutional blockchain finance adoption.
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Societe Generale Launches Dollar-Backed Stablecoin on Ethereum and Solana
Societe Generale becomes the first major European bank to launch a USD-backed stablecoin The stablecoin, USD CoinVertible, will operate on Ethereum and Solana Launch is set for July, marking a shift in how TradFi engages with crypto Societe Generale just did something few expected from a legacy bank in Europe—it launched a dollar-backed stablecoin. Yeah, a traditional financial giant stepping into the stablecoin game. That’s not something we see…
Société Générale launches its first dollar-backed stablecoin. A new step forward for banks in the cryptocurrency sector.
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