PANews reported on September 25 that according to Cointelegraph, the global banking group Societe Generale has partnered with Bitpanda to develop cryptocurrencies and stablecoins into a key component of the global financial system. Bitpanda will work with the banking group's blockchain subsidiary Societe Generale-FORGE to promote the mainstream adoption of its euro-denominated stablecoin EUR CoinVertible (EURCV). Jean-Mark Stenger, CEO of Societe Generale-FORGE, said the partnership is a key step in making stablecoins part of the broader financial system.

The collaboration comes ahead of the full implementation of the Markets in Crypto-Assets Act (MiCA), the first comprehensive regulatory framework for the crypto industry. The framework will affect crypto asset service providers and is expected to take full effect on December 30. Societe Generale’s new stablecoin will comply with MiCA standards and be listed on the Bitpanda trading platform for European investors. According to Wikipedia, Societe Generale is the 19th largest banking group in the world, with total assets exceeding $1.7 trillion as of 2023.