SocGen taps XRP-linked firm for expanding euro stablecoin

Societe Generale's digital assets unit, SG-FORGE, has launched its euro stablecoin, EUR CoinVertible, on the XRP Ledger (XRPL), marking its expansion to a third blockchain after Ethereum and Solana. Issued under French regulations, the stablecoin is backed one-to-one by cash or high-quality securities and has a circulating supply of approximately €65.8 million, positioning it as a significant euro stablecoin. SG-FORGE selected XRPL due to its low transaction costs and fast settlement, and it will utilize Ripple's custody infrastructure. This move enhances XRPL's standing as a compliant platform for institutional tokenized finance, especially as the network rolls out features like a Permissioned DEX for regulated participants. The stablecoin may eventually be explored as collateral or integrated into Ripple's payment products.

(Source：CoinDesk)