sg-forge

The tokenized securities settlement platform Seturion, part of the Stuttgart Stock Exchange Group, is collaborating with Société Générale, its cryptocurrency subsidiary SG-Forge, and online broker flatexDEGIRO to build a blockchain-based securities settlement system in Europe.Société Générale will issue tokenized structured securities on its Seturion platform, such as Turbo warrants and investment certificates. SG-Forge, which holds a crypto asset market license issued by French regulators, will use its CoinVertible euro and dollar stablecoins EURCV and USDCV for transaction settlement. Meanwhile, flatexDEGIRO will connect the platform to its European retail channels for tokenized securities trading.

Société Générale's crypto business unit SG-FORGE announced the completion of its first blockchain-based digital bond issuance in the United States, expanding its business footprint in on-chain capital markets.The short-term bonds issued are linked to the Secured Overnight Financing Rate (SOFR) and were purchased by trading firm DRW. The digital bonds utilize tokenization technology from Broadridge Financial Solutions and operate on the privacy-enabled blockchain infrastructure Canton Network developed by Digital Asset. This marks the first use of Broadridge's new platform for real-time securities issuance, while Canton Network enables instant settlement while retaining the legal structure of traditional finance. Société Générale stated that it has been active in the European digital bond space since 2019, and this transaction paves the way for entering the U.S. market, potentially facilitating on-chain issuance of more complex products such as structured notes in the future.

ChainCatcher news, Societe Generale's digital asset subsidiary SG-FORGE has introduced its euro and dollar stablecoins into DeFi, allowing users to engage in lending and spot trading.This move deploys the bank's EURCV and USD CoinVertible (USDCV) on the Ethereum-based Morpho and Uniswap protocols, expanding SG-FORGE's efforts to distribute its stablecoins through centralized exchanges and brokers. By entering DeFi, SG-FORGE enables clients to trade assets pegged to major currencies around the clock, while relying on smart contracts to handle transaction mechanisms. On the Morpho platform, users can now borrow EURCV and USDCV using cryptocurrencies (such as BTC, ETH) as well as money market token funds regulated by the French Financial Markets Authority (such as USTBL, EUTBL, which invest in U.S. Treasury bonds and Eurozone government bonds) as collateral.Asset management company MEV Capital will be responsible for managing these vaults, setting qualified collateral rules, and handling defaults when necessary. SG-FORGE stated that more types of collateral will be introduced in the future. Additionally, the listing on Uniswap will create a spot market for the bank-issued stablecoins. Market maker Flowdesk will provide liquidity, assisting traders in exchanging EURCV and USDCV without relying on traditional intermediaries.

ChainCatcher news, according to CoinDesk, Societe Generale-FORGE (SG-FORGE), the cryptocurrency subsidiary of Société Générale, has chosen Bullish's European branch as the first platform to launch its dollar-pegged stablecoin USD Coin Vertible (USDCV).This dollar-denominated stablecoin was launched in June this year on the Ethereum and Solana networks, and like its euro stablecoin EURCV, it is regulated under the EU's Markets in Crypto-Assets (MiCA) regulation. SG Forge CEO Jean-Marc Stenger stated that although the U.S. Congress has passed the GENIUS Act, a complete regulatory framework is not yet in place, and it is expected to take several months before it can be opened to U.S. residents. Currently, this stablecoin is only available to non-U.S. investors.