French banking giant Societe Generale has announced a new USD-pegged stablecoin called USD CoinVertible (USDCV), marking its entry into the expanding stablecoin market. This move positions Societe Generale as a potential pioneer in Europe, with USDCV launching on both Ethereum and Solana blockchains through their subsidiary SG-Forge, and custody services by BNY Mellon. This follows the launch of EURCV, Societe Generale’s euro-pegged stablecoin, earlier this year. 2023 has been a significant year for the rise in stablecoins. The CEO of SG-Forge, Jean-Marc Stenger, cited the dominance of USD in global markets as a key factor behind the launch. This new stablecoin offers institutional clients, companies, and individual investors access to corporate-level stability within the cryptocurrency market.