SG Forge, a subsidiary of Société Générale, will issue the euro stablecoin EURCV on Solana

ChainCatcher news, according to Coindesk, Société Générale's subsidiary SG Forge announced the launch of the euro stablecoin EUR CoinVertible (EURCV) on the Solana blockchain.

EURCV was previously issued on the Ethereum blockchain last year as a highly regulated euro alternative to dollar stablecoins like Tether and Circle.

However, EURCV's performance on Ethereum has not been ideal. According to Etherscan data, there are currently only 28 holders, 154 transaction records, and a total issuance of 33 million. SG Forge hopes to test the demand from crypto users for a euro stablecoin on a faster and lower-cost network by issuing EURCV on Solana.