Société Générale, one of Europe's largest banking groups, has deployed its euro-pegged stablecoin EUR CoinVertible (EURCV) on the XRP (XRP) Ledger, marking the third blockchain integration for the token after Ethereum (ETH) and Solana (SOL) as the institution pursues a multi-chain expansion strategy to broaden adoption.
What Happened: Euro Stablecoin Hits XRPL
SG-FORGE, the digital assets subsidiary of the Société Générale Group, announced the launch with support from Ripple's custody solution. The stablecoin, which currently has a circulating supply of 65.75 million, is backed by euro cash deposits and securities in compliance with European Union regulations.
SG-FORGE first issued EURCV on Ethereum and Solana before adding the XRP Ledger as its third network. The company intends to integrate the stablecoin into new use cases across the blockchain's products, including as trading collateral.
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Why It Matters: Institutional DeFi Push
Ripple's UK and Europe managing director, Cassie Craddock, described Société Générale-FORGE as "a pioneer amongst European institutions" in crypto-asset offerings, adding that Ripple provides "proven and trusted technology that meets the highest security and operational standards."
SG-FORGE CEO Jean-Marc Stenger said the XRPL launch reinforces the unit's commitment to "offering next-generation, compliant crypto-assets that promote transparency, security, and scalability." The deployment coincides with broader institutional interest in the XRP Ledger — Grayscale advisors recently classified XRP as the second-most-discussed digital asset after Bitcoin (BTC), while the XRPL network itself is opening to institutional decentralized finance through its latest updates.
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