SG-FORGE to Launch USDCV Stablecoin on Ethereum and Solana

Societe Generale’s digital subsidiary, SG-FORGE, has announced the upcoming launch of a new USD-backed stablecoin — USD CoinVertible (USDCV). Trading is expected to begin in early July, with Ethereum and Solana serving as the primary blockchains for deployment.

This marks a significant step in SG-FORGE’s mission to bridge traditional finance and decentralized infrastructure. Reserves for USDCV will be held by BNY Mellon, one of the world’s leading custodians, aiming to reinforce market trust and compliance.

USDCV follows the release of EUR CoinVertible (EURCV) in April 2023 — a euro-backed stablecoin from SG-FORGE. Together, these tokens aim to enable 24/7 fiat-to-stablecoin conversion for use cases such as crypto trading, cross-border transactions, supply chain settlements, currency exchange, and collateral operations.

Both stablecoins are classified as Electronic Money Tokens (EMTs) under the European Union’s MiCA regulatory framework. SG-FORGE is officially licensed by the French ACPR as an electronic money institution.

USDCV and EURCV will be made available to institutional, corporate, and retail clients via exchanges, brokers, and payment platforms, with liquidity provided by several market makers.

Jean-Marc Stenger, CEO of SG-FORGE, described the USD version as a natural next step:

"The stablecoin market remains largely USD-denominated. This new currency will allow our clients — whether institutions, corporations, or retail investors — to benefit from an institutional-grade stablecoin."

By involving BNY Mellon as a trusted reserve custodian, SG-FORGE aims to meet growing demand for regulated, transparent crypto products and boost institutional confidence in digital assets.

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