Earlier this week, Societe Generale FORGE said its EURCV stablecoin was used to settle the purchase of a Societe Generale issued green bond. Now the stablecoin is listed on the Bitstamp cryptocurrency exchange. We noted earlier in the week that there were a few small transactions involving the exchange.
Although the bank issued EURCV (or Coinvertible) in April, its first iteration went unused. It relaunched with an optimized smart contract in October and AXA XL used it to purchase €5 million of the €10 million green bond. The stablecoin is targeted at institutions.
Hence it complies with know your customer and anti money laundering rules. Bitstamp said that deposits and withdrawals will be limited to SocGen Forge whitelisted users initially. It is globally available apart from the United States and Singapore.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
