Société Générale’s Subsidiary Launches First USD Stablecoin on Ethereum

Société Générale’s crypto arm, SG Forge, is set to revolutionize the stablecoin landscape by launching a USD-backed cryptocurrency on Ethereum. This marks the first instance of a global bank leveraging public blockchains for this purpose. SG Forge aims to target institutional investors with this groundbreaking initiative, challenging existing players like USDT and USDC. The stablecoin launch follows SG Forge’s successful EURCV launch earlier in 2023, showcasing their experience in regulated stablecoin issuance. This move signifies a major shift in the financial sector as it introduces regulated alternatives in the highly competitive global stablecoin market.