ChainCatcher news, according to coindesk, Societe Generale subsidiary SG Forge announced that it will launch the euro stablecoin EUR CoinVertible (EURCV) on the Solana blockchain.

EURCV was previously issued on the Ethereum blockchain last year as a highly regulated euro alternative to US dollar stablecoins such as Tether and Circle. However, EURCV's performance on Ethereum is not ideal. According to Etherscan data, there are currently only 28 holders, 154 transaction records, and a circulation of 33 million.

SG Forge hopes to test the demand of crypto users for euro stablecoins on faster and lower-cost networks by issuing EURCV on Solana.