Societe Generale-FORGE continues to ink deals for its MiCAR compliant EURCV stablecoin, the latest being BCB Markets, part of the digital asset focused BCB Group, known for providing on and off-ramp services as well as trading.
“The stablecoin market is dominated by dollar-pegged coins, which of course is very useful for those who wish to work in that currency. But we firmly believe there is a market for alternatives in Europe,” said Jerome Prigent, Managing Director, BCB Europe.
“Money remittances are a significant market in many emerging economies and between those markets and Europe, and euro-denominated stablecoin is a way to reduce the cost of those remittances by as much as 80%, without going through the dollar,” Prigent added. The company noted the Middle East, Africa and Latin America are also looking for dollar alternatives.
BCB Europe has licenses both as a European digital asset service provider (DASP) and an electronic money institution, similar to SocGen-FORGE.
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