In July 2023, Societe Generale SG-FORGE will introduce a USD-pegged stablecoin called USDCV on Ethereum and Solana. This new initiative builds on their earlier launch of a Euro stablecoin, addressing the needs of institutional investors for efficient currency transactions.
The stablecoin market, largely dominated by USDC and USDT, poses entry hurdles for SG-FORGE. Although compliant with EU regulations, USDCV will not be available to US residents, reinforcing the challenges of competing in this established ecosystem.
Leave a Reply