Societe Generale-Backed Euro Stablecoin EURCV Starts Trading on Bitstamp
Summary
Societe Generale's euro stablecoin EUR Coinvertible (EURCV) has begun trading on the European cryptocurrency exchange Bitstamp. This marks the first time a euro stablecoin issued by a fully regulated bank is available on a crypto exchange. Developed by SG Forge, the bank's crypto division, EURCV was revealed in April as a tool to bridge traditional and digital capital markets. Asset management firm AXA IM used the stablecoin to buy €5 million worth of tokenized green bonds. French crypto financial services firm Flowdesk has been appointed as the market maker by Societe Generale.
