Societe Generale's EURCV Stablecoin Expands to Stellar Blockchain

French banking giant Societe Generale's unit, SG-FORGE, has announced the expansion of its euro-backed stablecoin, EUR CoinVertible (EURCV), to the Stellar blockchain. This move is part of the company's multichain strategy and aligns with the EU's Markets in Crypto-Assets (MiCA) regulation.

The deployment of EURCV on Stellar aims to provide businesses and financial institutions with a secure, transparent, and scalable digital euro option. By leveraging Stellar's blockchain infrastructure, EURCV will enable faster, low-cost transactions, as announced on Feb. 20.

EURCV's expansion to Stellar marks a significant step in the evolution of regulated digital assets in Europe. Initially launched on Ethereum, EURCV will now benefit from Stellar's high-speed, low-cost transaction capabilities, enhancing its utility for cross-border payments and financial applications.

SG-FORGE chose Stellar for its stablecoin due to several advantages, including high scalability, fast settlement times, and low transaction fees. The integration also provides EURCV with access to Stellar's decentralized exchange (DEX) and its broad network of asset managers, financial institutions, and traditional finance entities.

As one of the first stablecoins to fully comply with MiCA, EURCV is designed to meet strict regulatory standards, offering investors greater transparency and security. By aligning with Europe's evolving digital asset framework, the stablecoin is expected to drive further institutional adoption.

Guillaume Chatain, chief revenue officer of SG-FORGE, stated, "Our integration with Stellar bridges traditional finance with digital assets. Stellar's strong industry connections and technical capabilities align with our mission to expand stablecoin adoption within the financial system."

Denelle Dixon, CEO of the Stellar Development Foundation, called the partnership a "significant step forward in the evolution of digital payments," highlighting how the collaboration offers businesses and individuals a more efficient way to store and transfer value across borders.

SG-FORGE's expansion onto Stellar illustrates the growing institutional interest in blockchain-based financial solutions. With major banks increasingly leveraging public blockchains for regulated digital assets, stablecoins like EURCV could play a central role in Europe's future financial landscape.

The launch follows Societe Generale's broader blockchain initiatives, including issuing green bonds and recent repo transactions on a public blockchain in collaboration