Société Générale launches the USDCV dollar stablecoin on Ethereum and Solana

ChainCatcher news, according to Cointelegraph, Société Générale-Forge, the crypto subsidiary of Société Générale, announced the launch of a new stablecoin pegged to the US dollar.

According to the announcement released on June 10, this stablecoin is named USD CoinVertible (USDCV) and will be issued on the Ethereum and Solana blockchains. The UK financial services company BNY will act as the custodian of the assets backing this stablecoin.

This release follows the company's launch of the euro-pegged stablecoin EUR CoinVertible (EURCV) in April 2023, which was issued to institutional clients at that time.