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French banking group expands its euro stablecoin EURCV to the XRP Ledger
Deep Tide TechFlow News, February 19 — According to Cointelegraph, the digital asset division of French banking group Societe Generale, SG-FORGE, has extended its euro-pegged stablecoin EUR CoinVertible (EURCV) to the XRP Ledger. This marks the third blockchain deployment for the token after Ethereum and Solana, utilizing Ripple’s custodial infrastructure and potentially integrating into Ripple products as trading collateral. The stablecoin is backed 1:1 by bank cash deposits or high-quality securities. Currently, approximately 70.51 million tokens are in circulation, aiming to enhance institutional access to euro-backed tokens and comply with EU MiCA regulations. This move stems from SWIFT’s pilot testing of EUR CoinVertible for tokenized bond exchange and settlement, promoting the development of euro stablecoins to counter the dominance of the US dollar.