Societe Générale’s crypto division, SG‑FORGE, is extending its suite of regulated stablecoins with the introduction of USD CoinVertible (USDCV), a US dollar‑pegged token launching in July, managed on both Ethereum and Solana blockchains.

. As a licensed Electronic Money Institution under EU’s MiCA rules, SG‑FORGE positions USDCV alongside its existing EUR‑pegged stablecoin launched in April 2023—now complemented by this USD offering, marking a strategic move into the US dollar stablecoin market.

BNY Mellon, the world’s largest custodian bank, will hold full custody of USDCV’s reserve assets, which will consist exclusively of high‑quality, liquid instruments. In compliance with European regulation, SG‑FORGE commits to publishing the composition and valuation of reserves daily on its platform.

The token will be available to institutional, corporate, and retail clients (excluding U.S. persons), and will be listed on several cryptocurrency exchanges and accessible via brokers and payment providers.

SG‑FORGE’s CEO, Jean‑Marc Stenger, commented that introducing USDCV was the “obvious next step” in light of rapidly growing stablecoin adoption. BNY Mellon’s Carolyn Weinberg added that 24/7 stablecoins are driving resilience, operational efficiency, and new opportunities in financial services.

This move marks Societe Générale as the first major European bank to issue a dollar‑pegged stablecoin and signals traditional finance’s advancing embrace of blockchain‑based, regulated digital…