Societe Generale Unveils A Euro-Pegged Stablecoin for Institutional Investors
FORGE, Societe Generale's cryptocurrency team, has unveiled its latest project, a stablecoin called EUR CoinVertible (EURCV), built on the Ethereum blockchain.
The aim of this project is to provide institutional investors with an alternative method for managing cash flow while bridging the gap between traditional and digital asset markets.
To ensure that EURCV meets banking, legal and regulatory standards, it will comply with all relevant European Union regulations.
SG-FORGE will issue the stablecoin, and a reputable agent will manage the collateral that backs the token under a legally defined framework.
In case the stability of the coin is threatened, EURCV holders will have the ability to redeem their collateral as the token’s collateral will be legally separated from the SG-FORGE team.
Additionally, the legal structure will protect clients from technological failures on the blockchain, which is currently not available in the market.