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Société Générale-Forge Launches US Dollar-Pegged Stablecoin USDCV

Société Générale-FORGE introduces USD CoinVertible, a new stablecoin on Ethereum and Solana, set to launch in July 2025, enhancing fiat-backed stablecoin adoption.

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Summary

Société Générale-FORGE plans to launch USD CoinVertible (USDCV), a USD-backed stablecoin, on Ethereum and Solana in July 2025. The Bank of New York Mellon will act as the reserve custodian. USDCV will be available for trading outside the U.S., adhering to EU regulations, following the release of EUR CoinVertible.

Terms & Concepts
  • Stablecoin: A type of cryptocurrency that is pegged to a stable asset, such as a fiat currency, to reduce volatility.
  • Ethereum: A decentralized blockchain platform that enables developers to build and deploy smart contracts and decentralized applications.
  • Solana: A high-performance blockchain platform designed for decentralized applications and crypto projects, known for its fast transaction speeds.