Summary
- Societe Generale-FORGE said it has partnered with Consensys to link USDCV with MetaMask.
- It said USDCV is fully backed by cash, redeemable for dollars on a one-to-one basis, and issued under an ACPR electronic money license.
- Societe Generale-FORGE’s CEO said the integration would accelerate a financial system combining Web3 wallets, blockchain technology, and regulatory compliance.
Forecast Trend Report by Period
French investment bank Societe Generale will integrate its dollar stablecoin, USDCV, with MetaMask.
Societe Generale-FORGE, the bank’s crypto unit, announced on May 15 a partnership with crypto infrastructure firm Consensys to link USDCV to MetaMask. The integration will let users use USDCV for trading and DeFi services on the MetaMask website and mobile app.
USDCV is a dollar-denominated stablecoin issued by Societe Generale. Societe Generale-FORGE said the token is fully backed by cash and redeemable for dollars on a one-to-one basis. It added that the stablecoin is issued under an electronic money license from France’s Prudential Supervision and Resolution Authority, or ACPR.
Jean-Marc Stenger, chief executive officer of Societe Generale-FORGE, said the partnership brings USDCV to one of the world’s most widely used Web3 wallets. He added that it would help accelerate a financial system that combines the benefits of blockchain technology with security and regulatory compliance.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
