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Societe Generale-FORGE (SG-FORGE), a subsidiary of the Societe Generale Group specializing in cryptoassets, has achieved a significant milestone by listing its EUR CoinVertible (EURCV) stablecoin on crypto exchange Bitstamp.
SG-FORGE, a licensed digital asset service provider (DASP) under the supervision of the Autorité des Marchés Financiers (AMF), has positioned EURCV as a stablecoin of choice for a range of financial applications. By listing it on Bitstamp, the company aims to broaden access to EURCV, catering to the growing demand for a stable and trustworthy digital asset in the crypto market, according to an announcement on Wednesday.
The inclusion of EURCV on Bitstamp aligns with the evolving regulatory landscape in Europe, including the forthcoming European digital assets regulations MiCA and Pilot Regime, the joint announcement said. EURCV complies with French legal frameworks governing digital assets.
Leonard Hoh, Bitstamp general manager Asia Pacific, told Blockhead: "From a Singapore perspective, we think that this is a significant announcement against the backdrop of what Monetary Authority of Singapore is positioning the local market to facilitate, and also how the global stablecoin market is shaping up."
Jean-Marc Stenger, CEO of SG-FORGE, expressed his enthusiasm for this development, emphasizing its importance in driving the adoption of EURCV within the crypto ecosystem,while Bitstamp's CEO, Jean-Baptiste Graftieaux, highlighted the groundbreaking nature of this partnership, as EURCV becomes the first EUR stablecoin issued by a fully regulated subsidiary of a global bank.