TL;DR
- Société Générale-FORGE launched its USDCV stablecoin in Europe through Bullish Europe, becoming the first platform to operate under MiCA regulation.
- USDCV aims to provide institutional and retail investors access to payments, remittances, foreign exchange, and store-of-value services within a European regulatory framework.
- The partnership between Bullish Europe and SG-FORGE facilitates the integration of regulated cryptocurrencies into traditional financial ecosystems.
Société Générale-FORGE, the French group’s subsidiary dedicated to digital assets, launched its new stablecoin USDCV (USD CoinVertible) in Europe via Bullish Europe, becoming the first platform to offer it under supervision from Germany’s BaFin and MiCA regulation.
The stablecoin seeks to improve access to regulated digital assets for both institutional and retail investors, with applications in payments, remittances, foreign exchange, and as a store of value.
USDCV follows the path of EURCV, the euro-pegged stablecoin SG-FORGE introduced in 2023 for institutional clients. Both qualify as e-money tokens under European regulation and are freely transferable across the bloc. SG-FORGE holds an electronic money institution license issued by France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR), ensuring regulatory compliance and operational transparency.
Regulated Stablecoins Establish a Foothold in Europe
Marco Bodewein, CEO of Bullish Europe, highlighted that USDCV increases the availability of regulated cryptocurrencies and strengthens the platform’s position as a provider of institutional liquidity and compliant digital asset trading services. Jean-Marc Stenger, CEO of SG-FORGE, added that the partnership allows regulated stablecoins to be integrated into both traditional and digital financial ecosystems, promoting their widespread adoption across Europe.
The European initiative comes amid growing activity in the region, including recent launches such as EURAU, backed by Deutsche Bank DWS, Flow Traders, and Galaxy, and Paxos’ USDG, both regulated under MiCA and overseen by local authorities. Despite progress, European regulators warn about the risks of stablecoins issued outside the bloc, highlighting potential threats to financial stability and regulatory arbitrage. Christine Lagarde, President of the ECB, has emphasized the need for a common approach to mitigate these risks and protect the euro.
USDCV consolidates Société Générale-FORGE’s strategy of offering regulated digital assets, combining security, regulatory compliance, and seamless integration with existing financial systems
