Société Générale launches US dollar stablecoin on Ethereum and Solana

Société Générale-Forge launches USDCV stablecoin on Ethereum and Solana, with BNY as custodian and global rollout aimed at trading and settlement.

Société Générale-Forge, the crypto subsidiary of French financial services company Société Générale, has launched a new US dollar-pegged stablecoin.

According to a June 10 announcement, the stablecoin, dubbed USD CoinVertible (USDCV), will be issued on the Ethereum and Solana blockchains. United Kingdom-based financial services firm BNY will act as the custodian for the assets backing the stablecoin.

The announcement follows the firm’s April 2023 launch of its euro-pegged stablecoin EUR CoinVertible (EURCV) for institutional customers.

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