Societe Generale Introduces EUR CoinVertible
French banking giant Societe Generale has announced the listing of its stablecoin on the Luxembourg-based Bitstamp crypto exchange. The stablecoin, called EUR CoinVertible, will be fully backed by Euros and issued on the Ethereum public blockchain, showcasing Societe Generale’s foray into the digital token space.
“With this listing, SG-FORGE offers the opportunity to the crypto ecosystem to diversify its positions and gain access to a robust, stable asset built on Societe Generale’s regulatory and structuring expertise,” says Jean-Marc Stenger, CEO of SG-FORGE.
The launch of Societe Generale’s stablecoin marks a significant shift in the traditional financial industry, as it provides easy access to digital tokens that track the value of hard currencies. The listing on Bitstamp will be handled by Societe Generale Group’s subsidiary, SG-FORGE, which is licensed as a digital asset service provider (DASP).
