Top French Bank Launches MiCA-Compliant Stablecoin on Stellar Chain

SG-Forge, a subsidiary of top French commercial bank Société Générale, has launched its MiCA-compliant euro-pegged stablecoin on the Stellar blockchain.  According to an announcement, the EUR CoinVertible stablecoin (EURCV) grants users access to a transparent, secure, scalable, and regulatory-compliant digital euro.  The EURCV stablecoin has three major features: MiCA compliance, Stellar integration, and expanded accessibility. Per the announcement, EURCV is the first euro-pegged stablecoin to be fully compliant with the EU’s Markets in Crypto-Assets (MiCA) regulation. Notably, its compliance with the MiCA regulation offers users unrivaled security and transparency, protecting them from fraudulent practices.  Why SG-Forge Chose Stellar for Its Stablecoin Launch  In addition, EURCV’s integration with the Stellar network makes it suitable for cross-border settlements, with easy incorporation into financial applications through the blockchain’s native decentralized exchange. Also, the stablecoin will leverage Stellar’s speed and cost-effective features to enhance users’ experience.  Furthermore, launching EURCV in the Stellar ecosystem exposes the stablecoin to asset managers, financial institutions, and entities within the traditional financial space that have previously connected with the blockchain.  Another reason why SG-Forge launched EURCV on Stellar was to leverage the network’s high scalability, low cost, speed, and asset tokenization advantages. The announcement notes that while transactions on the Stellar blockchain are completed within seconds, users get to pay less than a cent in fees.  Stellar and SG-Forge Execs React  Guillaume Chatain, Chief Revenue Officer (CRO) at SG-Forge, referred to EURCV’s integration with Stellar as a pivotal moment that bridges the realms of traditional finance and the digital asset ecosystem.  Also, Denelle Dixon, CEO of Stellar Development Foundation (SDF), highlights the launch of EURCV as a significant step in the evolution of digital payments. She pointed out that combining the Stellar blockchain with a MiCA-compliant stablecoin offers businesses and individuals a reliable way to store and transfer value. In the meantime, EURCV is currently available on Luxembourg-based cryptocurrency exchange Bitstamp. It has a market cap of €42.21 million ($44.22 million), with a daily trading volume of €4,592 ($4,811). At the moment, EURCV has a circulating and total supply of 41.16 million tokens.  For context, EURCV has been in existence since 2023, following its initial debut on the Ethereum blockchain. The stablecoin has debuted on other prominent blockchains ever since, including the XRP Ledger (XRPL).