In brief: SG Forge confirms the launch of a stablecoin in dollar

SG-FORGE, the subsidiary crypto Societe Generale, has just formalized the deployment of its US dollar-backed stablecoin (USD). This announcement confirms the persistent rumours In the last few weeks, SG-Forge's position as a market reference has been strengthened.

First French PSAN (Digital Asset Service Provider) certified by the Autorité des Marchés Financiers in July 2023, SG-Forge will also be the first French group to boast of having launched a stable USD CoinVertible.

This confirmation has just been made by Societe Generale's crypto subsidiary which specifies that its stablecoin in dollar will be issued on the public blockchain Ethereum and Solana.

Bank of New York Mellon Corporation (BNY), an international financial services company, will act as a reserve depositary.

SG-FORGE will also offer its customers an instant conversion, 24/7, between cash and stable currencies.

The subsidiary of Société Générale also states, on this occasion, that its USD CoinVertible and EUR CoinVertible comply with the European rules on crypto-active markets (MiCA). They will also support several client activities such as:

• cryptocurrency trading,
• cross-border payments,
• On-chain regulation,
• foreign exchange transactions,
• the management of guarantees and treasury.

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