French Bank SocGen is Expanding its Euro-Backed Stablecoin to The Stellar Network

Societe Generale Expands Euro-Backed Stablecoin to Stellar

Societe Generale’s blockchain unit, SG-FORGE, has launched its euro-backed stablecoin, EUR CoinVertible (EURCV), on the Stellar blockchain. This move is part of its plan to support multiple blockchains while ensuring compliance with the EU’s Markets in Crypto-Assets (MiCA) regulations.

Why Stellar?

SG-FORGE originally launched EURCV on Ethereum but has now expanded to Stellar because of its fast, low-cost, and scalable transactions. This upgrade will make EURCV more useful for cross-border payments and financial applications.

By integrating with Stellar’s decentralized exchange (DEX), EURCV will also gain access to a wider network of banks, financial institutions, and asset managers.

Regulatory Compliance & Adoption

EURCV is one of the first stablecoins to fully comply with MiCA, ensuring security and transparency for investors. This alignment with EU regulations could increase stablecoin adoption among institutions.

SG-FORGE’s Chief Revenue Officer, Guillaume Chatain, said:
"Our integration with Stellar connects traditional finance with digital assets, helping expand stablecoin adoption in the financial system."

Denelle Dixon, CEO of Stellar Development Foundation, called this a big step forward for digital payments, making it easier for businesses and individuals to transfer value across borders.

Growing Blockchain Adoption

This expansion reflects the increasing institutional interest in blockchain-based financial solutions. Major banks are now using public blockchains for regulated digital assets, and stablecoins like EURCV could play a key role in Europe’s financial future.

Societe Generale has also been involved in other blockchain projects, including issuing green bonds and conducting repo transactions on a public blockchain in partnership with the French central bank.