Circle was not the only stablecoin issuer to be awarded an Electronic Money Institution (EMI) license by France’s Autorité de Contrôle Prudentiel et de Résolution (ACPR). Societe Generale – Forge (SG Forge) also announced it received a license and was making its EURCV stablecoin compliant with the MiCA regulations that came into force on 30 June.
Until now the public blockchain stablecoin has only been transferable to whitelisted addresses, but that restriction is now lifted. However, it is not available to U.S. residents. Additionally, SG Forge has contracted with Wintermute to act as an additional liquidity provider for the EURCV stablecoin.
“Robust and regulated stablecoins are essential for the proper functioning, security and institutionalization of crypto-asset markets,” said Jean-Marc Stenger, CEO of Societe Generale – Forge. “With EUR CoinVertible, and the implementation of the European MiCA regulation, SG Forge is strengthening its offering to crypto ecosystems while continuing to develop innovative cross-border settlement and payment solutions based on blockchain technology for its corporate and financial institution clients.”
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