Societe Generale-FORGE has announced the launch of a new stablecoin, USD CoinVertible, which will allow users to easily exchange currencies and carry out transactions.
Launch of USD CoinVertible
Societe Generale-FORGE, the integrated subsidiary of the Societe Generale Group, is set to release the USD CoinVertible stablecoin on both the Ethereum and Solana blockchains, with trading expected to commence in early July 2025.
Technical Details and Opportunities
The USD CoinVertible will be the second stablecoin issued by SG-FORGE, following the EUR CoinVertible. The new token will allow clients to convert fiat currencies into stablecoins, facilitating immediate transactions in both USD and EUR. The collateral composition and real-world asset backing will be displayed publicly on the SG-FORGE website, updated daily.
Regulatory Aspects and SG-FORGE Plans
Bank of New York Mellon Corporation will serve as the token's reserve custodian. Although backed by USD, the stablecoin will not be available for trading in the United States until approval is obtained from financial authorities. EU customers will be able to trade USD CoinVertible freely, as it complies with the European MiCA regulations.
The launch of USD CoinVertible signals a growing interest in stable currencies and underscores Societe Generale-FORGE's commitment to participating in the expanding stablecoin market.
