SG-Forge, the digital asset arm of Societe Generale, is deploying its euro-based stablecoin on the XRP Ledger (XRPL).
SG-Forge’s Mica-compliant euro-denominated stablecoin EURCV, launched last year, has been deployed on Ethereum and Solana.
Next year, it will also issue on XRPL using the Ripple Custody solution, which the bank said will benefit from the ledger’s scalability, speed and low costs.
Over the past decade, XRPL has become home to over 1,750 unique applications and exchanges, processed over 2.8 billion secured transactions, and supports over 5 million active wallets.
“We decided to launch this stablecoin on this blockchain because we want to provide the next generation of compliant digital assets that promote transparency, security and scalability,” said Guillaume Chatain, chief revenue officer at SG-Forge.
Markus Infanger, senior vice president of RippleX, added: “Bringing a trusted, bank-grade stablecoin like EURCV to XRPL is critical to enabling institutional use cases like payments, which is a core focus for Ripple.”
