SG-Forge Expands Its Multichain Strategy by Deploying EURCV Stablecoin on the Stellar Network

The crypto subsidiary of Société Générale continues its multichain expansion with the deployment of its euro stablecoin EURCV on the Stellar network.

Cryptocurrency exchange Société Générale (SG) has announced the integration of its euro stablecoin, EURCV, with the Stellar network. This marks the third blockchain to host the stablecoin, following its previous launches on Ethereum and Solana.

According to a press release shared with CoinTribune on Thursday, the initiative is part of a broader strategy to strengthen the bridges between traditional finance and the world of cryptocurrencies.

SG-Forge, the crypto subsidiary of SG, is already present on Ethereum and Solana. Now, it takes a new step by integrating the Stellar network for its EURCV stablecoin.

This choice is driven by several major technical advantages of the Stellar blockchain. These include scalability allowing for thousands of transactions per second, nearly instant transactions, minimal fees on the order of a cent, and advanced capabilities in asset tokenization.

CoinVertible (EURCV), currently the third most significant euro stablecoin with a market capitalization exceeding 41 million euros, will benefit from Stellar’s robust infrastructure to offer more accessible and efficient financial services.

Integration with Stellar particularly allows access to a vast network of financial institutions and asset managers already connected to the ecosystem.

Guillaume Chatain, sales director of SG-Forge, emphasizes the importance of this expansion: “Our integration on Stellar marks a turning point in the rapprochement between traditional finance and digital assets. The vision and infrastructure of Stellar align perfectly with our goal of broad adoption of stablecoins in the financial system.”

Significant technical and strategic advantages

The EURCV stands out for its total compliance with the European Markets in Crypto Assets (MiCA) regulation, a first for a European stablecoin. This compliance, combined with SG-Forge’s multichain expansion, illustrates the institution’s commitment to developing innovative financial solutions while respecting the regulatory framework.

The stablecoin is already available on the Bitpanda crypto exchange since September 2024, providing European investors with secure access to this stable digital currency. This expanded accessibility, coupled with the integration on Stellar, further strengthens the position of EURCV as a credible alternative to traditional stablecoins like USDT, which is gradually pulling out of the European market in response to MiCA demands.

Denelle Dixon, CEO of the Stellar Development Foundation, also confirms the importance of this initiative: “The arrival of EURCV on Stellar represents a major advance in the evolution of digital payments, offering users a more efficient means of storing and transferring value across borders.”

In summary, this strategic expansion positions SG-Forge as a major player in the digital transformation of the European financial sector, effectively bridging the gap between traditional finance and blockchain innovation.