Stablecoin Revolution: French Bank Launches First

Société Générale Launches First Bank-Issued Dollar Stablecoin on Ethereum

• SG Forge, Société Générale’s crypto arm, will introduce a dollar-backed stablecoin on Ethereum.
• This initiative marks the first global banking group to issue a dollar stablecoin on a public blockchain.
• The stablecoin targets institutional investors and aims to tap into the $250 billion dollar stablecoin market.
• SG Forge plans to expand the stablecoin to other networks, including Solana.
• The firm previously launched EUR CoinVertible (EURCV) in April 2023, focusing on euro-denominated tokens.

SG Forge is set to launch a dollar-backed stablecoin on Ethereum, making Société Générale the first major bank to issue such a token publicly. This move targets institutional investors and seeks to capitalize on the $250 billion market for dollar-pegged tokens.