TL;DR:
- SG-FORGE deployed its euro stablecoin EUR CoinVertible on the XRP Ledger, expanding its presence beyond Ethereum and Solana.
- The stablecoin has a circulating supply of approximately €65.8 million and is backed 1 to 1 by cash deposits or high-quality securities.
- Ripple will provide the custody infrastructure for the launch. Additionally, the stablecoin could be integrated as collateral in trading operations.
SG-FORGE, the digital assets unit of Societe Generale, deployed its euro stablecoin EUR CoinVertible on the XRP Ledger, making it the third blockchain in its multichain framework after previously integrating Ethereum and Solana. Ripple’s ledger has become a reference institutional platform for regulated digital assets in Europe.
EUR CoinVertible is issued under French digital asset regulation and backed 1 to 1 by cash deposits or high-quality securities. With a circulating supply of approximately €65.8 million, according to CoinGecko data, it ranks among the highest-volume euro stablecoins on the market, trailing only Circle’s EURC.
SG-FORGE justified its choice of the XRP Ledger based on its low transaction costs and settlement speed. Ripple will provide the custody infrastructure for the launch. According to SG-FORGE’s official statement, the possibility of incorporating EUR CoinVertible into Ripple’s payment products and using it as collateral in trading operations will also be explored.
XRP Ledger Attracts European Banking
The XRP Ledger is going through a pivotal moment. The network’s validators are voting on new technical improvements, including the Permissioned DEX, a feature designed to create controlled trading environments where only pre-approved participants can operate. This type of mechanism responds to the compliance requirements that regulated financial firms demand in order to integrate into blockchain infrastructure.
Cassie Craddock, Managing Director for the UK and Europe at Ripple, highlighted in the statement that “Societe Generale-FORGE has long been a pioneer among European institutions in building a market-leading digital asset offering.” Craddock also underscored Ripple’s role as a long-term infrastructure provider for SG-FORGE.
For the crypto ecosystem, this integration is a highly significant signal: XRPL breaks from its traditional model and moves beyond cross-border payments, stepping into the settlement of tokenized assets, digital deposits and regulated on-chain finance.
