, a U.S. dollar-pegged stablecoin aimed at institutional blockchain adoption.){kind=link}
On 10th June, Societe Generale-Forge, the digital asset subsidiary of French banking giant Societe Generale, announced the launch of a new U.S. dollar-pegged stablecoin called USD CoinVertible (USDCV).
The stablecoin will be issued on both the Ethereum and Solana blockchains, aiming to offer high interoperability and efficiency for institutional-grade digital transactions.
USDCV Targets Regulatory Compliance and Transparency in Digital Finance
Backed by U.S. dollar reserves, USDCV is designed to meet regulatory and compliance standards, aligning with the growing demand for transparent and secure digital assets in traditional finance.
BNY Mellon, one of the world’s largest custody banks, will serve as the asset custodian for USDCV, reinforcing the coin’s institutional-grade backing and credibility.
The move marks a significant step for traditional banks entering the stablecoin market, which crypto-native firms have largely dominated.
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Societe Generale Expands Blockchain Push with Launch of USDCV Stablecoin
Societe Generale, one of France’s three major banks, has been gradually deepening its involvement in blockchain and digital assets.
Through Forge, it previously issued tokenized bonds and other digital financial instruments, and the launch of USDCV further signals its long-term strategy to integrate blockchain technology into mainstream finance.
With USDCV, Societe Generale positions itself at the intersection of regulated banking and decentralized finance, catering to institutions looking for compliant, blockchain-based payment and settlement solutions
“After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a US Dollar version (USDCV) was the obvious next step for Societe Generale–FORGE as market adoption of stablecoins is growing exponentially,” says Jean-Marc Stenger, Chief Executive Officer of Societe Generale – FORGE.
They add, “The stablecoin market remains largely US Dollar denominated. This new currency will enable our clients, either institutions, corporates or retail investors, to leverage the benefits of an institutional-grade stablecoin”
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USDCV Marks Milestone as First Regulated Stablecoin from Major Global Bank
The launch of USD CoinVertible (USDCV) by Societe Generale-Forge is a major milestone as it marks one of the first regulated stablecoins issued by a major global bank.
Backed by U.S. dollar reserves and issued on both Ethereum and Solana, USDCV brings institutional credibility and regulatory compliance to the stablecoin space—an area often dominated by crypto-native firms.
With BNY Mellon as custodian, the move also bridges traditional finance and decentralized technology, offering secure, transparent, and efficient digital transactions.
It signals growing confidence among legacy banks in blockchain infrastructure and could accelerate adoption of tokenized financial instruments in regulated markets.
This sets a precedent for how traditional financial institutions can integrate digital assets into mainstream financial systems.
USDCV and EURCV Support Trading, Payments, FX, and On-Chain Settlement
USD CoinVertible and EUR CoinVertible support a wide range of customer use cases, including crypto trading, cross-border payments, on-chain settlements, FX transactions, and cash and collateral management.
Several trustworthy market makers will supply liquidity for the stablecoins, which will be listed on multiple cryptocurrency exchanges and accessible to institutional, corporate, and retail investors via a variety of crypto brokers and payment service providers.
Early July is when USDCV trading is anticipated to begin. The USD CoinVertible and EUR CoinVertible are not accessible to all US citizens.