Close Menu
    Facebook LinkedIn YouTube Instagram X (Twitter)
    Blue Tech Wave Media
    Facebook LinkedIn YouTube Instagram X (Twitter)
    • Home
    • Leadership Alliance
    • Exclusives
    • Internet Governance
      • Regulation
      • Governance Bodies
      • Emerging Tech
    • IT Infrastructure
      • Networking
      • Cloud
      • Data Centres
    • Company Stories
      • Profiles
      • Startups
      • Tech Titans
      • Partner Content
    • Others
      • Fintech
        • Blockchain
        • Payments
        • Regulation
      • Tech Trends
        • AI
        • AR/VR
        • IoT
      • Video / Podcast
    Blue Tech Wave Media
    Home » SocGen brings EURCV stablecoin to XRP Ledger
    SocGen
    SocGen
    Fintech

    SocGen brings EURCV stablecoin to XRP Ledger

    By Vionna Fiducia ThejaNovember 18, 2024No Comments3 Mins Read
    Share
    Facebook Twitter LinkedIn Pinterest Email
    • SocGen’s subsidiary SG-FORGE will deploy its euro stablecoin EURCV on the XRP Ledger, expanding its multichain approach after earlier plans for Solana.
    • EURCV, launched on Ethereum in 2023, has faced limited traction, but the XRP Ledger integration aims to enhance cross-border payments with fast and low-cost transactions.

    What happened

    In a move to bolster its position in the rapidly evolving stablecoin market, Societe Generale’s digital asset subsidiary, SG-FORGE, has announced that it will bring its euro-pegged stablecoin, EUR CoinVertible (EURCV), to the XRP Ledger (XRPL). This marks a pivotal expansion of its multichain strategy, with plans to roll out the token on XRPL in 2025 after a challenging launch on Ethereum in 2023.

    Also read: Bitcoin hits new highs, eyes $100,000 mark
    Also read: Bitcoin reaches record high as investors bet on Trump victory

    EURCV was introduced to Ethereum last year as a highly regulated alternative to dominant dollar-pegged stablecoins like Tether’s USDT and Circle’s USDC, but it has struggled to gain significant traction. With only 38 million EURCV tokens in circulation compared to Circle’s 92 million EURC, the stablecoin has yet to establish itself as a serious contender in the euro stablecoin market. Recognising the need for greater scalability, SG-FORGE also announced plans earlier this year to deploy EURCV on Solana, capitalising on the network’s faster and cheaper transactions.

    Now, with the upcoming deployment on XRP Ledger, SG-FORGE aims to tap into the network’s cross-border payment capabilities and its low-cost, fast settlement features. Ripple, the company behind XRPL, is also making strides in the stablecoin space with its own upcoming U.S. dollar stablecoin, RLUSD, which is currently awaiting regulatory approval.

    Why this is important

    The expansion of EURCV to the XRP Ledger is a significant move for SocGen as it seeks to enhance the utility of its stablecoin by utilising the XRP Ledger’s advanced cross-border capabilities. The deployment aims to make EURCV more attractive to institutional users by leveraging Ripple’s trusted custody services and the benefits of faster, cheaper transactions, which are essential for international payments.

    With stablecoins becoming increasingly popular for global payments, this move positions EURCV alongside other institutional-grade stablecoins as part of the growing trend of banks adopting blockchain technology. As regulations around stablecoins solidify, more financial institutions are likely to issue their own digital assets, and the competition to provide the most efficient and secure solutions will intensify. SG-FORGE’s adoption of a multichain approach could help solidify its place in this evolving space.

    In the broader context of blockchain and digital assets, SocGen’s multichain strategy could set the stage for more banks and financial institutions to explore similar moves, further integrating blockchain technology into mainstream finance. This development is part of a wider trend of traditional financial services innovating with cryptocurrency and blockchain to stay competitive in a digital-first world.

    Vionna Fiducia Theja

    Vionna Fiducia Theja is a passionate journalist with a First Class Honours degree in Media and Communication from the University of Liverpool. A storyteller at heart, she delves into the vibrant worlds of technology, art, and entertainment, where creativity meets innovation. Vionna believes in the power of media to transform lives and spark conversations that matter. Connect with her at v.zheng@btw.media.

    Related Posts

    Could a public audit save AFRINIC from collapse?

    July 14, 2025

    What happens after you submit an IP request to AFRINIC

    July 14, 2025

    Interview with Ram Kumar, Cofounder of OpenLedger: Harnessing the $25M funding to shape the future of decentralized AI in China

    July 14, 2025
    Add A Comment
    Leave A Reply Cancel Reply

    CATEGORIES
    Archives
    • July 2025
    • June 2025
    • May 2025
    • April 2025
    • March 2025
    • February 2025
    • January 2025
    • December 2024
    • November 2024
    • October 2024
    • September 2024
    • August 2024
    • July 2024
    • June 2024
    • May 2024
    • April 2024
    • March 2024
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • October 2023
    • September 2023
    • August 2023
    • July 2023

    Blue Tech Wave (BTW.Media) is a future-facing tech media brand delivering sharp insights, trendspotting, and bold storytelling across digital, social, and video. We translate complexity into clarity—so you’re always ahead of the curve.

    BTW
    • About BTW
    • Contact Us
    • Join Our Team
    TERMS
    • Privacy Policy
    • Cookie Policy
    • Terms of Use
    Facebook X (Twitter) Instagram YouTube LinkedIn

    Type above and press Enter to search. Press Esc to cancel.