USDCV is Société Générale‑Forge’s new euro‑regulated US dollar‑pegged stablecoin now listed on Bullish Europe, offering MiCA- and BaFin‑supervised access for retail and institutional use including payments, remittances and FX under an e‑money token framework.
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Bullish Europe first to list USDCV under MiCA and BaFin oversight.
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USDCV is issued by Société Générale‑Forge and uses Bank of New York Mellon as custodian.
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Both USDCV and EURCV qualify as EU e‑money tokens, transferable under MiCA rules; several issuers have MiCA approvals in 2024.
USDCV stablecoin now live on Bullish Europe under MiCA and BaFin supervision — learn what this means for EU stablecoin access and regulation. Read more.
Bullish’s European arm became the first exchange to list Société Générale‑Forge’s new USDCV stablecoin under MiCA and BaFin oversight.
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Bullish Europe has become the first platform to list Société Générale‑Forge’s USDCV stablecoin, expanding regulated access to a euro‑supervised digital dollar product across the European Union.
According to a Tuesday announcement, Bullish is the first to offer USD CoinVertible (USDCV) to customers through its German Federal Financial Supervisory Authority (BaFin) and Markets in Crypto‑Assets Regulation (MiCA) regulated trading platform.
The project follows an early June statement from Société Générale‑Forge that the stablecoin would launch with Bank of New York Mellon serving as custodian. Société Générale‑Forge previously launched the euro‑pegged EUR CoinVertible (EURCV) for institutional clients in 2023.
What is USDCV and how does it differ from EURCV?
USDCV stablecoin is an e‑money token issued by Société Générale‑Forge pegged to the US dollar and designed for payments, remittances and FX use in the EU. Unlike EURCV, which is euro‑pegged and targeted primarily at institutional customers, USDCV targets both retail and institutional markets under MiCA and French e‑money licensing.
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USDCV qualifies as an e‑money token within the European Union and is freely transferable under MiCA rules. Société Générale‑Forge holds an electronic money institution license from the Autorité de Contrôle Prudentiel et de Résolution (ACPR), and Bullish’s German platform lists the token under BaFin supervision.
Société Générale‑Forge is the issuer and Bank of New York Mellon is the custodian for fiat reserves backing USDCV. Bullish Europe provides the regulated trading venue offering access to customers under MiCA and BaFin oversight.
Front‑loading regulated access, Bullish’s listing signals broader institutional adoption of EU‑compliant stablecoins. It creates a regulated on‑ramp for customers seeking MiCA‑aligned stablecoins and strengthens the EU on‑chain payments infrastructure without relying on unregulated offshore issuers.
Europe has intensified stablecoin activity: new euro stablecoin projects, BaFin approvals for euro tokens, and multiple issuers receiving MiCA approvals in 2024. At the same time, EU officials have publicly warned about risks tied to non‑MiCA stablecoins and cross‑jurisdictional issuance.
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Source: https://en.coinotag.com/bullish-europe-could-be-first-to-list-societe-generale%E2%80%91forges-usdcv-under-mica-and-bafin-oversight/
