Category: Technology

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what is eurcv stablecoin?

eurcv

EUR CoinVertible (EURCV) is a stablecoin pegged to the value of the euro fiat currency. It was launched in April 2023 by Société Générale – FORGE, a crypto asset-focused subsidiary of Société Générale, one of France’s largest banks (1).

Key Features

    • Ethereum-based: EURCV is an ERC20 token issued on the Ethereum blockchain network (1).
    • Fiat-backed: SG-FORGE ensures that all EURCV tokens are backed by bank cash deposits or high-quality securities on a 1:1 basis (1).
    • Regulatory compliance: EURCV is designed in accordance with the French legal framework applicable to digital assets (1).
    • Whitelisting: Transfers of EURCV can only occur between Ethereum addresses whitelisted by SG-FORGE, ensuring robust compliance controls
      (1).

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how does a stablecoin work with blockchain technology?

Stablecoins leverage blockchain technology to create a digital asset that combines the stability of traditional currencies with the advantages of cryptocurrencies. Here’s how stablecoins work with blockchain technology:

Blockchain Foundation

Stablecoins are built on existing blockchain networks, with Ethereum being the most popular platform. However, they can also operate on other blockchains like Solana, Tron, or even Bitcoin (through recent innovations like Taproot Assets) (1).

Smart Contracts

The core functionality of stablecoins is typically implemented through smart contracts. These are self-executing programs stored on the blockchain that manage:

    1. Issuance and redemption of tokens
    2. Collateral management (for collateralized stablecoins)
    3. Price stability mechanisms

Key Blockchain Features Utilized

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