Société Générale, a major French multinational bank, has deployed its euro-denominated stablecoin on the XRP Ledger. The move marks the third network integration for the bank’s digital token after earlier launches on Ethereum and Solana.
The stablecoin, known as EUR CoinVertible, operates through the bank’s digital assets arm, SG-FORGE. It is fully backed by euro cash deposits or high-quality securities and adheres to the European Union’s Markets in Crypto-Assets framework.
EUR CoinVertible had roughly €65.8M in circulation according to CoinGecko data, positioning it as the third-largest euro stablecoin by market value.
SG FORGE said the deployment reinforces its commitment to offering compliant crypto assets that prioritize transparency, security, and scalability across multiple networks.
Cassie Craddock, Managing Director for UK and Europe at Ripple, said the bank has been a pioneer among European institutions building crypto asset infrastructure for clients, adding that Ripple’s technology meets high operational and security standards.
Jean Marc Stenger, CEO of SG FORGE, described the XRPL launch as a new step in expanding the reach of its digital asset solutions portfolio and advancing next generation compliant crypto products.
Source: https://cryptobriefing.com/societe-generale-euro-stablecoin-xrp/
