20-5-2025 – The French banking powerhouse Société Générale has embarked on a pioneering venture into digital assets through its specialist arm, SG Forge. The subsidiary is poised to revolutionise the cryptocurrency landscape by launching the first-ever dollar-denominated stablecoin issued by a major bank on Ethereum’s blockchain network.
This watershed development follows the successful rollout of their euro-pegged stablecoin, EURCV, which has garnered significant traction since its April 2023 debut, amassing a circulation of 40 million euros. Armed with a coveted EU electronic money licence, SG Forge’s latest initiative specifically caters to institutional investors whilst addressing the growing European appetite for regulated dollar-based digital tokens.
The banking conglomerate’s strategic foray into blockchain technology extends beyond Ethereum, with ambitious plans to broaden their stablecoin’s reach across other prominent networks, including Solana. This calculated expansion underscores Société Générale’s commitment to establishing itself as a trailblazer in the convergence of traditional banking and decentralised finance.
By becoming the first multinational banking institution to issue a dollar stablecoin on a public blockchain, Société Générale is effectively bridging the gap between conventional financial systems and the burgeoning world of digital assets, potentially setting a precedent for other major banks to follow suit.
