The crypto division of French banking giant Societe Generale, known as Societe Generale-FORGE, has expanded the reach of its euro-denominated stablecoin by deploying it on the Stellar blockchain. The move represents another step in the company’s multichain expansion strategy, which was first outlined in 2025 as part of its broader push into blockchain-based financial infrastructure.
The token, called EUR CoinVertible (EURCV), is designed to represent a tokenized euro compliant with European regulatory standards. The stablecoin has been structured to operate within the framework established by the Markets in Crypto-Assets, the European Union’s comprehensive regulation governing digital assets and stablecoin issuers.
Societe Generale-FORGE initially introduced EUR CoinVertible on Ethereum in April 2023. The stablecoin is fully backed by reserves consisting of bank deposits and high-quality liquid assets on a one-to-one basis, ensuring that each token is supported by equivalent underlying value. At present, the stablecoin holds a market capitalization of approximately $452 million, according to data from the DeFi analytics platform DefiLlama.
Earlier this year, the stablecoin also participated in a pilot conducted by the global banking network SWIFT. The test demonstrated how tokenized bonds could be exchanged and settled using both traditional fiat currency and blockchain-based digital assets, highlighting the potential for stablecoins to integrate with existing financial infrastructure.
Despite rising interest in euro-denominated stablecoins, the global market remains dominated by dollar-backed digital assets. Tether currently holds a market capitalization of about $185 billion, representing nearly 60% of the entire stablecoin sector, while USD Coin accounts for roughly $78 billion.
The growth of dollar-backed stablecoins accelerated in the United States after the passage of the GENIUS Act in July 2025, which introduced regulatory clarity for issuers. Since then, the total stablecoin market capitalization has expanded from around $260 billion to more than $314 billion, according to industry data.
Source: Official announcements from Societe Generale-FORGE.
Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice. Digital asset markets are subject to regulatory changes and market volatility.
