Societe Generale Expands Euro Stablecoin to XRP Ledger

Société Générale’s digital asset arm, SG-FORGE, has officially deployed its euro-backed stablecoin, EUR CoinVertible (EURCV), on the XRP Ledger (XRPL).

The move marks the asset’s third public blockchain integration, following its earlier launches on Ethereum in 2023 and Solana in 2024.

The expansion reflects SG-FORGE’s continued push into regulated on-chain finance, with a clear focus on institutional-grade infrastructure and European regulatory compliance.

Why XRPL?

According to SG-FORGE, the XRP Ledger was selected for its operational efficiency and infrastructure maturity.

The deployment is supported by Ripple’s custody technology, which provides the security framework required by regulated financial institutions. The firm highlighted XRPL’s low transaction costs, high throughput capacity, and fast settlement times as primary advantages for institutional use.

From a compliance standpoint, EURCV is positioned as the first stablecoin designed to align fully with the European Union’s Markets in Crypto-Assets (MiCA) regulation. It also integrates with SWIFT’s interoperability framework, strengthening its compatibility with traditional banking rails.

The stablecoin remains backed 1:1 by bank cash deposits or high-quality securities, preserving its structure as a fully collateralized euro-denominated digital asset.

Institutional Use Cases

The expansion to XRPL is intended to broaden institutional access to euro-backed digital liquidity across several financial applications.

One primary use case is trading collateral. EURCV is expected to integrate with Ripple’s ecosystem and potentially serve as collateral within trading and decentralized finance environments.

Cross-border payments are another focus area. Given XRPL’s design for efficient international transfers, the stablecoin could streamline B2B settlements across jurisdictions.

Additionally, EURCV has already been tested in a SWIFT pilot involving tokenized bond issuance and settlement. That initiative demonstrated its potential utility in regulated capital markets, particularly for securities settlement workflows.

Market Context

As of February 2026, approximately 70.51 million EURCV tokens are in circulation.

The launch reinforces XRPL’s growing role in regulated real-world asset tokenization. It also comes shortly after network upgrades such as the Permissioned DEX, which introduced compliance-gated trading environments for authorized participants.

With deployments now spanning Ethereum, Solana, and XRPL, SG-FORGE appears to be positioning EURCV as a multi-chain euro liquidity layer built specifically for institutional finance rather than retail speculation.

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