Societe Generale Subsidiary to Issue US Dollar Stablecoin

SG-FORGE, the cryptocurrency subsidiary of France's major bank Societe Generale, announced on the 10th that it will issue the US dollar stablecoin 'USD CoinVertible (USDCV)'. The coin will be issued on the public blockchains Ethereum (ETH) and Solana (SOL), with asset backing managed by leading financial services company BNY Mellon (BNY). It aims to seamlessly connect traditional and digital financial ecosystems, complying with Europe's cryptocurrency regulations outlined in the MiCA law.