Societe Generale-FORGE announced plans to launch a USD denominated stablecoin on permissionless blockchain networks, partnering with Bank of New York Mellon (BNY) as reserve custodian. The USD CoinVertible (USDCV) will be deployed on both Ethereum and Solana blockchains, offering institutional grade digital currency access around the clock.
The new stablecoin represents SG-FORGE’s second digital currency offering, following the EUR CoinVertible (EURCV) launched in April 2023. As the first subsidiary of a global systemically important bank to launch a public blockchain stablecoin, SG-FORGE aims to capitalize on the growing institutional adoption of digital assets.
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