SG-Forge, the blockchain division of Société Générale, has announced the launch of EURCV, a stablecoin pegged to the euro and compliant with the MiCA (Markets in Crypto-Assets) regulation.
The choice of the Stellar network for the issuance of EURCV highlights the bank’s focus on efficient infrastructures for digital finance. Â
SG-Forge and the multichain strategy for EURCV
SG-Forge has already explored several blockchain to test the issuance of digital assets. The integration with Stellar is part of a broader multichain strategy, which aims to ensure interoperability and security for tokenized financial assets.
The adoption of Stellar allows SG-Forge to benefit from scalability, transaction speed, and reduced costs. The Stellar network is known for its efficiency in cross-border payments and for the ease with which financial institutions can issue digital assets. Â
The choice of Stellar is not random. This blockchain was developed to facilitate fast and economical transactions, making it suitable for the issuance and management of stablecoin.
Some of the main advantages of Stellar include:Â Â
- – Low transaction costs: Stellar allows value transfers with minimal fees compared to other blockchains. Â
- – Speed: Transactions are confirmed in a few seconds, facilitating instant payments. Â
- – Scalability: The network can handle a high volume of operations without compromising efficiency. Â
These characteristics make Stellar an ideal platform for a regulated stablecoin like EURCV, ensuring reliability for institutional and corporate users. Â
The importance of compliance with MiCA Â
The MiCA regulation introduced by the European Union establishes a clear regulatory framework for criptovalute and stablecoins. The EURCV is among the first MiCA-compliant stablecoins, marking a step forward for the adoption of regulated digital assets in the European market.
MiCA imposes stringent requirements on transparency, reserves, and governance, fundamental elements to ensure trust between investors and companies. EURCV’s compliance with these standards strengthens its credibility in the financial sector. Â
The entry of SG-Forge into the regulated stablecoin sector could have significant implications.Â
Traditional banks are increasingly exploring the integration between traditional finance and blockchain, and the launch of EURCV on Stellar is a clear signal of this trend. Â
A wider adoption of regulated stablecoins could favor:Â Â
- – More efficient international payments Â
- – Reduction of dependence on traditional banking infrastructures Â
- – Greater transparency and security in digital transactions Â
With the launch of EURCV on Stellar, SG-Forge demonstrates how banks can leverage blockchain to innovate digital finance.Â
Compliance with MiCA, combined with the advantages of Stellar, positions this stablecoin as a potential key tool for the European digital asset market.