After a stable corner in Euro, SG Forge would consider attacking the dollar

SG Forge is become the first French Digital Asset Service Provider certified by the Autorité des Marchés Financiers in July 2023. Since then, the subsidiary of Société Générale dedicated to the activities of crypto-assets, Continue its work to establish itself as a benchmark of its market. And his latest initiative to help him take the form of preparing a stable-backed American dollar.

FACTS

• SG Forge is about to sign a new world premiere for a banking group. It would indeed prepare the launch of a stablecoin based on the dollar on public blockchains.

• The Ethereum blockchain platform would initially be involved, before Solana and Stellar. The deployment of this new stablecoin would in any case be planned for the next few weeks

• The information has not yet been formalized by Societe Générale Forge but emanates from the specialized media The Big Whale. There are currently regulatory constraints to this deployment.

ISSUES

• Sign first : The French bank would become the first in the world to offer a stable corner backed by the US dollar, before even the US banks that do not offer dollar stablecoins on public blockchains but are limited to private initiatives.

• To be a reference : This positioning would allow him to consolidate his status as avant-garde while SG Forge Signed already obtaining the first French PSAN, certified by the Autorité des Marchés Financiers in 2023. The subsidiary also provides deployment EUR CoinVertible (EURCV), backed by the euro.

PERSPECTIVE

• The deployment of a new stablecoin by SG Force would take place in a particularly favourable context for cryptocurrency in general. The international reference, the Bitcoin, has in fact just broken a new record by over $109,000. And its course is expected to rise again, even to $200,000 according to some experts by the end of the year.

• The dollar-backed stablecoins market reached nearly $250 billion, driven by Tether and USDC USDT references issued by Circle on public blockchains.

• In the face of these alternative players, the efforts of the historical financial actors to ensure their positioning in this market do not slow down. Besides SG Forge, it was also MasterCard that recently specified Associate with MoonPay to offer a stablecoin payment card.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate