Ibahagi ang artikulong ito
SocGen’s Crypto Arm Unveils Dollar Stablecoin on Ethereum and Solana
SG Forge’s USD CoinVertible has Bank of New York Mellon acting as reserve custodian for the token.
Hun 10, 2025, 8:30 a.m. Isinalin ng AI
Make us preferred on Google
What to know:
- SocGen says it is the first global banking group to issue a public stablecoin tied to the U.S. dollar.
- Trading of USDCV is expected to start early July. Neither USD CoinVertible nor EUR CoinVertible are available to U.S. residents.
SG Forge, the cryptocurrency division of French bank Société Générale, plans to introduce a dollar-backed stablecoin on the Ethereum and Solana blockchains, the bank said on Tuesday.
The USD CoinVertible (USDCV) will start trading in early July and involves Bank of New York Mellon acting as reserve custodian for the token.
STORY CONTINUES BELOW
Huwag palampasin ang isa pang kuwento.Mag-subscribe sa Crypto Daybook Americas Newsletter ngayon. Tingnan lahat ng newsletter
As crypto rules coalesce around the globe, pressure is mounting on banks to take part in the integration of fiat-pegged stablecoins into mainstream finance (TradFi). SocGen, something of a stablecoin pioneer with its euro-backed EURCV token, says it is the first global banking group to issue a public stablecoin tied to the U.S. dollar.
The involvement of BNY Mellon enables seamless integration between traditional and digital financial ecosystems, SG Forge said in a press release.
“After the release of a MiCA-compliant EUR stablecoin (EURCV), the launch of a U.S. dollar version was the obvious next step for Societe Generale–FORGE as market adoption of stablecoins is growing exponentially,” SG Forge CEO Jean-Marc Stenger said in the statement, referring to the European Union's Markets in Crypto Assets regulations.
Stablecoins, digital tokens whose value is pegged to a real-world asset, are used extensively for crypto trading and other applications. The market is dominated by Tether's USDT, with a market cap of about $155 billion, according to CoinDesk data. USDC, issued by Circle (CRCL), is No. 2 with a market cap of $60 billion.
“The stablecoin market remains largely U.S. dollar denominated. This new currency will enable our clients, either institutions, corporates or retail investors, to leverage the benefits of an institutional-grade stablecoin,” he said in a statement.
USD CoinVertible and EUR CoinVertible are designed to support a wide range of client activities, the bank said, including crypto trading and cross-border payments, on-chain settlement, foreign exchange transactions and collateral and cash management.
Neither USD CoinVertible nor EUR CoinVertible are available to "U.S. Persons," SG Forge said.
Higit pang Para sa Iyo
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
Ano ang dapat malaman:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
Higit pang Para sa Iyo
Stablecoins moved $35 trillion last year but only 1% of it was for 'real world' payments
While stablecoins settled around $35 trillion last year, only around 1% of that represented genuine payments like remittances and payroll, a new report found.
Ano ang dapat malaman:
- Stablecoins processed more than $35 trillion in transactions last year, but only about 1% of that reflected real-world payments, a report by McKinsey and Artemis Analytics found.
- The study estimated that roughly $390 billion in genuine stablecoin payments, such as vendor payments, payrolls, remittances and capital markets settlements.
- Despite rapid growth and increasing interest from traditional payment firms like Visa and Stripe, true stablecoin payments still account for just a tiny fraction of the more than $2 quadrillion global payments market, the report said.
Top Stories
