Deutsche Börse and Societe Generale Teamed Up to Integrate CoinVertible Stablecoins

• Deutsche Börse and Societe Generale are expanding the use of stablecoins in the European financial infrastructure.
• EURCV and USDCV will be included in Clearstream’s settlement systems.
• CoinVertible will become a so-called “bridge” between crypto assets and traditional markets within MiCA.

The German multinational corporation Deutsche Börse Group has announced a partnership with the French financial company Societe Generale Group and its subsidiary Societe Generale-FORGE (SG-FORGE) to integrate CoinVertible stablecoins (EURCV and USDCV) into its own financial markets and post-trade infrastructure.

As part of the first phase of cooperation, CoinVertible will be used as a settlement and collateral tool in the clearing, collateral management, and treasury operations of Clearstream, the post-trade division of Deutsche Börse Group.

SG-FORGE stablecoins will also receive a new listing on Deutsche Börse Group’s digital trading platforms, which should increase their liquidity.

In the future, the parties plan to evaluate the possibility of wider integration of CoinVertible’s euro and US dollar into the entire Deutsche Börse Group service portfolio, which will increase the number of scenarios for using stablecoins that are fully compliant with the requirements of the Markets in Crypto Assets (MiCA) regulation and are targeted at financial institutions.

Stephanie Eckermann, member of the Executive Board of Deutsche Börse Group, responsible for Post-Trading, emphasized the importance of the project:

Alexandre Fleury, Co-Head of Global Banking & Investor Solutions at Societe Generale Group, said:

Jean-Marc Stange, CEO of SG-FORGE, added:

The cooperation also comes as the two groups participate in the Central Bank Digital Currency (CBDC) projects aimed at modernizing the issuance, settlement and storage of financial instruments based on distributed ledger technologies and central bank digital currencies.

In September, Deutsche Börse Group signed a Memorandum of Understanding with Circle to integrate USDC and EURC into its financial infrastructure.