Societe Generale-FORGE (SG-FORGE), the cryptocurrency-focused subsidiary of the French bank, has chosen the European arm of crypto exchange Bullish as the first venue to list the lender’s USD CoinVertible (USDCV) stablecoin.

The dollar-denominated USDCV stablecoin, which SG Forge introduced on Ethereum and Solana back in June of this year, will list on Bullish Europe, the companies said on Tuesday. Bullish Global is also the owner of CoinDesk.

The arrival of regulations around stablecoins has caught the attention of the financial industry. SG Forge’s USDCV stablecoin, like its euro-denominated counterpart (EURCV), is regulated under the Markets in Crypto-Assets regulation (MiCA).

Although the GENIUS Act has been passed by the U.S. Congress, the full regulation is not yet in place, pointed out Jean-Marc Stenger, CEO of Societe Generale-FORGE. This means it will be some time before the bank’s stablecoins will be available to U.S. residents.

“For the moment, we have clarity in Europe with MiCA, but we don't have this clarity in the U.S. Being a bank subsidiary, if we don't have a clear picture, we can't go ahead like a crypto player might do,” Stenger said in an interview.

“It's probably several months ahead of us to have all these additional rules which will be issued in the U.S. So for now, we restrict the access of this product to non-U.S. investors, and once we will have a clear picture of the environment in the U.S., our goal is to lift this constraint,” he said.

There’s been a lot of talk about stablecoins among banks and other traditional finance firms, what with the bedding in of MiCA and U.S. President Donald Trump’s crypto-friendly administration, but not a lot of action. SocGen remains the main stablecoin trailblazer among systemically important banks, for the time being at least.

SG Forge’s EURCV euro stablecoin, which was launched in 2023, has around €40 million ($47m) of turnover every day, according to Stenger. He said the number of exchanges and brokers allowed to directly mint and burn the stablecoin is growing steadily, while there are 10 or 15 exchanges in the queue to be on-boarded.

“We have one single KYC procedure and policy for the group, meaning that we onboard crypto exchanges and brokers the same way SocGen will onboard any other client,” Stenger said. “On occasion it's a big order for some crypto players, but it’s important towards building strong partnerships.”

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。