Thu Nov 14 20:00:00 UTC 2024: ## French Bank Societe Generale’s Stablecoin Expands to XRP Ledger

**New York, NY** – SG-FORGE, the digital assets subsidiary of French bank Societe Generale, announced plans to deploy its euro stablecoin, EUR CoinVertible (EURCV), on the XRP Ledger (XRPL) network. This move marks a significant step in SG-FORGE’s strategy to expand across multiple blockchains, leveraging the XRPL’s strengths in cross-border payments and tokenization.

EURCV, launched on Ethereum in 2023, is a highly regulated stablecoin aiming to compete with major players like Circle and Tether. While EURCV achieved a limited issuance of 38 million euros, it faces stiff competition from dollar-linked stablecoins like Tether’s USDT ($126 billion) and Circle’s USDC ($37 billion).

SG-FORGE previously announced plans to deploy EURCV on Solana, seeking to capitalize on the network’s faster and cheaper transactions. This latest expansion to the XRPL underscores SG-FORGE’s commitment to reaching a wider audience and exploring new avenues for its digital solutions.

“We are excited to further innovate and expand the reach of our portfolio of digital solutions,” said Guillaume Chatain, chief revenue officer at SG-FORGE. “With the deployment on XRPL, we aim to leverage the network’s cross-border payment and tokenization capabilities, benefiting from its fast settlements and low-cost transactions.”

Ripple, the company behind the XRPL, welcomes the addition of EURCV to its network. “Bringing trusted, banking-grade stablecoins like EURCV onto the XRPL is critical to enabling institutional use cases, like payments, which is a core focus for Ripple,” said Markus Infanger, SVP at RippleX.

This move highlights the growing interest in stablecoins as a more efficient and cost-effective means of global payments. As regulations for the asset class emerge, more banks are exploring the potential of issuing their own stablecoins.

This development comes as Ripple prepares to launch its own US dollar stablecoin, RLUSD, which is currently awaiting regulatory approval from the New York Department of Financial Services.

This expansion of EURCV onto the XRPL further solidifies the role of stablecoins in the future of finance, paving the way for increased adoption and innovation in the digital asset space.

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