SOCIZE GIRL PARES DANDES DOLLAR BACKED STABLECOIN ROLLOUT ON EtherEeum

EthereSociété Générale's cryptocurrency division SG Forge is deepening its footprint in digital assets with the launch of a US dollar-backed stablecoin. By Cointelegraph

French multinational investment bank Société Générale is launching a US dollar-backed stablecoin, which will be deployed on the Ethereum blockchain.

French multinational investment bank Société Générale is launching a US dollar-backed stablecoin, which will be deployed on the Ethereum blockchain.

The new cryptocurrency offering will be available to institutional investors only and will be launched in the coming weeks, according to a report by Blockworks on Wednesday.

The new cryptocurrency offering will be available to institutional investors only and will be launched in the coming weeks, according to a report by Blockworks on Wednesday.

The bank’s cryptocurrency division, SG Forge, will oversee the launch of the stablecoin, which could later be extended to the Solana blockchain.

The bank’s cryptocurrency division, SG Forge, will oversee the launch of the stablecoin, which could later be extended to the Solana blockchain.

The development comes as the U.S. Senate prepares to vote on the bipartisan GENIUS Act, which aims to regulate stablecoins and place them under the supervision of the Federal Reserve.

The report provides further insight into the stablecoin offering, noting that it will be available in limited quantities and will be used mainly by institutional investors.

The report provides further insight into the stablecoin offering, noting that it will be available in limited quantities and will be used mainly by institutional investors.

The new stablecoin is part of Société Générale’s broader strategy to expand its presence in the digital asset market. Earlier this year, the bank launched an euro-backed stablecoin as part of its efforts to develop new financial products and services.

Société Générale is among several financial institutions that are venturing into the stablecoin market. Its move comes amid increasing interest in digital currencies from both institutional and retail investors.

Earlier this week, Mastercard announced the launch of a stablecoin payment card service through a partnership with MoonPay, while Meta is reportedly planning to re-enter the cryptocurrency space with a focus on stablecoins.

Earlier this week, Mastercard announced the launch of a stablecoin payment card service through a partnership with MoonPay, while Meta is reportedly planning to re-enter the cryptocurrency space with a focus on stablecoins.

Moreover, payment giants Visa and Stripe are planning to expand their involvement in the stablecoin market.

In other crypto news, travel firm W Travel Holdings (WLFI) is using Chainlink to monitor the price of its dollar-linked stablecoin on the Ethereum blockchain.

In other crypto news, travel firm W Travel Holdings (WLFI) is using Chainlink to monitor the price of its dollar-linked stablecoin on the Ethereum blockchain.