BCB Markets Partners Societe Generale FORGE for EURCV Stablecoin Distribution

BCB Markets, the trading arm of crypto payments firm BCB Group, has entered into an agreement with Societe Generale–FORGE to distribute EURCoinVertible (EURCV), a euro-linked stablecoin developed by the French banking giant’s digital asset subsidiary. This partnership aims to facilitate the broader adoption of fiat-linked digital assets, providing institutions with stablecoin alternatives beyond the U.S. dollar.

EURCV, launched in April 2023, is one of the first stablecoins to comply with the European Union’s Markets in Crypto Assets (MiCA) framework, which became effective this year. Backed by cash reserves and pegged to the euro, EURCV is designed for institutional use, offering stability and regulatory clarity within the European stablecoin market.

Jerome Prigent, managing director of BCB Europe, emphasized the significance of a euro-denominated stablecoin, stating, "The stablecoin market is dominated by dollar-pegged coins, which is useful for many, but we believe the euro deserves a native, regulated digital representation." This partnership enables BCB's clients, including crypto-native firms and traditional financial institutions, to utilize EURCV for faster and more cost-effective transactions, particularly in cross-border payments.

Prigent highlighted that the appeal of euro-denominated stablecoins extends beyond Europe, as businesses in emerging markets across the Middle East, Africa, and Latin America are exploring alternatives to U.S. dollar-linked tokens for remittances and trade. Euro-denominated stablecoins can reduce the cost of cross-border money transfers by as much as 80%, eliminating the need to route payments through the dollar.

Jean-Marc Stenger, CEO of Societe Generale–FORGE, commented on the collaboration, stating, "The collaboration with BCB Markets supports the EURCV stablecoin expansion as an effective means of payment across various geographies and use cases." This announcement comes as regulated stablecoins gain traction in Europe under MiCA, which establishes new standards for transparency, reserve management, and licensing for issuers.