Today Societe Generale FORGE (SG-FORGE) announced that it has launched its EUR Coinvertible (EURCV) stablecoin on the XRP Ledger, after announcing plans over a year ago. This is the fourth different blockchain on which the stablecoin is circulating, with the others being Ethereum, Solana and Stellar.
EURCV has come a long way in the past 18 months since it launched on Solana as its second chain. While the total issuance is fairly modest at €65.8 million ($77.7m), it is the second largest euro stablecoin after Circle’s EURC. The SG-FORGE token currently has more than 500 holders compared to just 28 in September 2024.
Ripple, which is closely associated with the XRP Ledger, and SG-FORGE have an existing relationship. SG-FORGE adopted Metaco’s custody technology in 2022, and Ripple acquired Metaco the following year, renaming it Ripple Custody, with EURCV also using the Ripple custody solution. SG-FORGE mentioned the stablecoin being integrated into other Ripple solutions. While it didn’t disclose which solutions, Ripple’s acquisition of corporate treasury management platform GTreasury is one potential fit for EURCV.
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.
