Share this article
SocGen's Crypto Unit Takes Euro Stablecoin to Solana After Flopping on Ethereum
The French financial services firm is betting on Solana's faster and cheaper attributes.
Updated Sep 20, 2024, 5:00 p.m. Published Sep 20, 2024, 7:00 a.m.
SINGAPORE – SG Forge, a subsidiary of Societe Generale, will roll out euro stablecoin on the Solana blockchain, the French financial services firm said Friday.
SG Forge launched EURCV on the Ethereum blockchain last year as a highly regulated, euro-centric alternative to top dollar-linked stablecoins from Tether and Circle.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
It has struggled to catch on: EURCV has only 28 holders, 154 lifetime transactions and an issuance of 33 million, according to its Etherscan page.
The Solana debut will test whether crypto users have any appetite for Euro-linked stablecoins on a faster and cheaper network, two attributes SG Forge touted in a press release. CEO Jean-Marc Stenger said in the presser that Solana's speed "will unlock new possibilities for both retail users and institutional players in" decentralized finance (DeFi).
Stablecoins are becoming systemically important to the global financial economy, Bernstein wrote in a recent report. Myriad firms are eager to replicate the success of Circle and Tether, the largest stablecoin issuers who collect major windfalls from ownership of the Treasury notes underlying their respective assets.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Hilbert Group buys Enigma Nordic in $32 million deal to boost crypto trading edge
The deal includes performance-based earn-outs contingent on Enigma's strategies generating $40 million in net income.
What to know:
- Hilbert Group has acquired high-frequency trading platform Enigma Nordic in a $32 million deal, gaining access to Enigma's proprietary trading system and market-neutral strategies.
- The deal includes performance-based earn-outs contingent on Enigma's strategies generating $40 million in net income.
- The acquisition will help Hilbert offer systematic crypto products to institutional investors, with plans to integrate Enigma's platform into its hedge fund offerings.
Top Stories
