what is eurcv stablecoin?

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).

Use Cases

EURCV is designed to provide:

1. 1. Settlement and store-of-value asset for on-chain transactions
   2. A solution for cash management and cash pooling activities
   3. On-chain liquidity funding and refinancing solutions
   4. A solution for intra-day liquidity needs (e.g., margin calls) (1)

Recent Developments

• • In October 2023, SG-FORGE announced an updated EURCV smart contract designed to improve resiliency and make transfers faster (1).
  • As of July 2024, SG-FORGE obtained “electronic money institution (EME)” approval in compliance with the European Union’s Market in Crypto Assets (MiCA) regulation (1).
  • EURCV is now listed on the Bitstamp cryptocurrency exchange, with trading pairs including EURCV-EUR and EURCV-USDT (1).
  • In November 2024, SG-FORGE announced plans to deploy EURCV on the XRP Ledger (XRPL) in 2025, expanding its multi-chain approach beyond Ethereum and Solana. (1)

Unique Aspects

EURCV stands out from other stablecoins due to its institutional focus and robust legal structure. It offers tokenholders direct recourse to segregated collateral assets, and SG-FORGE publishes the collateral assets value daily (1, 2).

This approach aims to provide a high level of transparency and security for institutional investors.In conclusion, EURCV represents a significant step in the integration of traditional banking with blockchain technology, offering a euro-pegged stablecoin that adheres to regulatory standards while providing the benefits of blockchain-based transactions.