Societe Generale-FORGE Brings MiCA-Compliant EUR Stablecoin to Solana
Solana DeFi gains another powerful tool in its quest for compliant, diversified markets.
Societe Generale FORGE, a subsidiary of France’s popular Societe Generale Bank, has announced its intention to integrate its Euro-pegged stablecoin with the Solana network.
A fully MiCA-compliant stablecoin, CoinVertible’s ($EURCV) inclusion in Solana’s flourishing DeFi ecosystem promises to expand the diversity of fiat-pegged digital currencies on the network, arming users with new ways to store and transact value on the network.
Bringing $EURCV to Solana, SG-FORGE will leverage Solana’s fast, cost-effective network to offer users an improved user-experience. $EURCV provides users with greater regulatory clarity, allowing them to enjoy the efficiency and liquidity of Solana’s onchain markets without compromising MiCA compliance.
"This planned deployment marks a new milestone in SG-FORGE's growth. The combination of Solana’s highspeed network and SG-FORGE’s reliable, secure stablecoin will unlock new possibilities for both retail users and institutional players in DeFi " - Jean-Marc Stenger, CEO of Societe Generale-FORGE.
CoinVertible is currently only available on the Ethereum network, where the Euro-pegged stablecoin has faced low levels of adoption. According to Etherscan data, $EURCV has a circulating supply of just over 33M, spread across 28 holders.
SG-FORGE anticipates the move will bring further recognition to the asset due to Solana’s inherent accessibility. By expanding to Solana, SG-FORGE contends that users will benefit from the network’s low fees, rapid transactions, and enhanced scalability.
"We are thrilled to welcome Societe Generale-FORGE and it’s EURCV stablecoin to the Solana ecosystem. Stablecoins are a key component of the DeFi landscape, and the introduction of EURCV, a MiCA compliant stablecoin, on Solana will bring a powerful new option for users looking for speed, efficiency, and stability" - Nick Ducoff, Head of Institutional Growth, Solana Foundation.
$EURCV’s integration with the Solana blockchain represents a promising step forward for the network. By adopting a diversified and regulated range of fiat-pegged assets, Solana positions itself as an accessible network for European institutions and retail users committed to a sustainable and compliant future.
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