Societe Generale Picks Ripple To Launch Euro-backed Stablecoin

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• The digital asset division of French bank Societe Generale has decided to deploy its Euro-backed EURCV stablecoin on Ripple's XRPL blockchain. The cryptocurrency available on Ethereum and Solana will be launched on the network in 2025.
• EURCV is designed to be fully compliant with the EU's Markets in Crypto-Assets MiCA regulation and its operations will be overseen by French monetary authorities.
• The rally of the broader crypto market has resulted in the price of Ripple XRP skyrocketing to a three-year high of 1.28. This surge is also driven by the bullish news that Donald Trump is expected to make a pro-crypto pick to head the U.S. Securities and Exchange Commission SEC.

French banking giant Societe Generale has announced plans to launch its Euro-denominated stablecoin, EUR CoinVertible EURCV, on the XRP Ledger XRPL by Ripple Labs - the issuer of the XRP cryptocurrency.

Societe Generale Will Launch EURCV Stablecoin On Ripple In 2025

The bank's digital asset subsidiary Societe Generale-FORGE has selected the XRPL blockchain for EURCV, following the stablecoin's initial launches on the Ethereum and Solana networks. The EURCV coin will launch on the Ripple blockchain in 2025.

SG-Forge's chief revenue officer, Guillaume Chatain, stated in an official press release that the bank decided upon Ripple due to its capabilities in scalability, speed, and cost-efficiency, which are attributes the bank believes are crucial for supporting institutional-grade stablecoins .

EURCV is designed to be fully compliant with the European Union's forthcoming Markets in Crypto-Assets MiCA regulation, which will position it as a highly secure and regulated digital currency for institutional investors.