Societe Generale-FORGE, the crypto division of French banking company Societe Generale, has placed its euro stablecoin on the Stellar blockchain, completing the multi-chain expansion first announced in 2025.
The stablecoin, known as EUR CoinVertible (EURCV), is designed to be compatible with the European Union Markets in Crypto-Assets (MiCA) and represents the company’s tokenized euro for use in digital asset markets.
According to the company, the expansion of Stellar is intended to expand the use of stablecoin in blockchain-based financial applications and services of tokenized assets.
SG-FORGE said Stellar offers high transaction throughput, low network fees and built-in support for tokenized assets. The network also includes a decentralized exchange that allows users to trade digital assets directly onchain.
Societe Generale-FORGE first launched EUR CoinVertible (EURCV) stablecoin on Ethereum in April 2023. According to DefiLlama, the stablecoin is fully backed by reserves consisting of bank deposits and high-quality liquid assets on a one-to-one basis and has a current market cap of around $452 million.
The development comes weeks after SG-FORGE placed EUR CoinVertible on the XRP Ledger, marking the third blockchain network after Ethereum (ETH) and Solana (SOL).
In January, the stablecoin was used by the global banking network SWIFT in a test that demonstrated the exchange and settlement of tokenized bonds using fiat and digital currencies.
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Steady development of European coins
Despite the growing interest in Euro tokens, a stable US dollar asset market is dominant. USDT (USDT) has a market capitalization of about $185 billion, which is about 60% of the sector, while Circle USDC (USDC) is about $78 billion.
The adoption of digital dollars in the US accelerated after the GENIUS Act was passed in July 2025, which provided regulatory clarity for stablecoin issuers. According to DefiLlama, the total market capitalization rose from about $260 billion on July 20 to more than $314 billion.
Meanwhile, Europe has taken a more restrictive regulatory approach. The European Union’s MICA framework introduced new rules for stablecoin issuers in June 2024, requiring companies operating in the European Economic Area to obtain an electronic money license in at least one EU member state.
The regulation prompted several exchanges, including Coinbase, OKX, Bitstamp, Uphold, and Binance, to remove or limit support for stablecoins not approved under the framework. Tether has also decided to stop holding EURT to the euro.
In November, European Central Bank officials warned that the increasing stability of the US dollar could weaken Europe’s monetary sovereignty by increasing reliance on dollar-denominated digital assets.
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