USD CoinVertible: Societe Generale-FORGE launches the new stablecoin on Ethereum and Solana

The launch of the stablecoin USD CoinVertible marks an important evolution in the cryptocurrency market, effectively connecting traditional systems to digital ones thanks to Societe Generale-FORGE and Bank of New York Mellon. 

The digital currency, denominated in US dollars, will be available on the public blockchains Ethereum and Solana, offering customers new opportunities for instant and secure transactions.

Societe Generale-FORGE and the new stablecoin USD CoinVertible

Societe Generale-FORGE (SG-FORGE), one of the main entities dedicated to crypto assets of the Societe Generale Group, has announced the launch of USD CoinVertible (USDCV). 

That is, a stablecoin pegged to the value of the US dollar and built to operate on two public blockchains: Ethereum and Solana. This technical choice ensures flexibility, speed, and low costs in transactions.

The financial group Bank of New York Mellon (BNY), a global leader in financial services, will be the custodian of the reserves of USD CoinVertible. 

This collaboration ensures a solid integration between traditional sectors and emerging ones of digital finance, with a secure and transparent management of activities guaranteeing the stablecoin.

USD CoinVertible represents the second stablecoin launched by SG-FORGE after the release of EUR CoinVertible (EURCV), which occurred in April 2023. 

Both are designed to provide investors and financial operators with robust and immediate access to the stablecoin markets.

A strength of these stablecoin is the possibility offered to customers to make immediate and continuous conversions between fiat currencies and digital assets. 

In practice, during every moment of the day and night, investors will be able to exchange USD or EUR with USDCV or EURCV without interruptions, making trading and payments smoother and more efficient.

Areas of use and recipients of the stablecoin USDCV

USD CoinVertible is not just an exchange tool, but a versatile resource that supports multiple financial activities, including:

– Cryptocurrency trading with lower volatility risks typical of non-anchored tokens.

– Cross-border payments, that is, fast and low-cost international transactions.

– On-chain settlement, for the direct settlement on blockchain of financial operations.

– Forex transactions and management of collateral and liquidity.

Furthermore, the stablecoin will be listed on several cryptocurrency exchanges and accessible through brokers, payment operators, and qualified market makers. Trading of USDCV is expected to begin in the early days of July 2025. 

However, it should be noted that neither USD CoinVertible nor EUR CoinVertible are available for residents in the United States.

A key element of SG-FORGE’s strategy is the total transparency regarding the composition and daily valuation of the reserves that support the stablecoin. These assets are selected according to strict criteria of:

– High liquidity,

– Minimum reliability rating,

– Compliance with current regulations.

BNY, as custodian of the reserves, leverages its established experience in the custodial sector and supports the growing ecosystem of digital assets. This management model offers superior security to both investors and financial institutions involved.

USD CoinVertible and EUR CoinVertible are classified as Electronic-Money Tokens (EMT), fully compliant with the European Markets in Crypto-assets (MiCA) regulation. 

SG-FORGE is authorized as an Electronic Money Institution (EMI) by the French Prudential Supervision and Resolution Authority (ACPR), ensuring very high standards of supervision and protection for investors.

The words of the Leaders of Societe Generale-FORGE and BNY

Jean-Marc Stenger, CEO of Societe Generale-FORGE, emphasized how the launch of USD CoinVertible is a natural step forward after the success of EURCV, in a rapidly growing market dominated by the US dollar. 

He highlights that this stablecoin will offer institutional-level advantages to a wide range of clients, from retail investors to large enterprises.

Carolyn Weinberg, Chief Product & Innovation Officer at BNY, stated that the advent of stablecoins like USDCV catalyzes a radical transformation in the money markets. 

Increasing resilience, operational efficiency, and creating new possibilities for corporations and investors. BNY’s experience in custody, investment management, and digital payments makes this collaboration particularly significant.

The introduction of USD CoinVertible by Societe Generale-FORGE, with the strategic partnership of BNY as custodian, represents a crucial milestone in the convergence between traditional financial systems and blockchain innovations.

This digital asset promises to facilitate rapid, secure, and regulated operations, especially in a global context where efficiency and transparency are essential.

Furthermore, the adopted model inspires confidence both in regulated markets and among end users, helping to overcome many of the barriers that have so far hindered the full adoption of stablecoins.

For anyone operating in the financial sector or interested in the crypto world, it is time to closely monitor the evolution of USD CoinVertible. 

Taking advantage of 24/7 conversions and the security guaranteed by the SG-FORGE model can open new paths to dynamic investments and efficient international transactions.

The future of financial transactions is increasingly digital: the stablecoin denominated in dollars by Societe Generale-FORGE promises to be a benchmark for innovation, transparency, and security.