Summary
- Société Générale-Forge announced the launch of the US dollar-pegged stablecoin USDCV on the Ethereum and Solana blockchains.
- USDCV will support 24/7 fiat and crypto exchanges and real-time transactions between dollars and euros.
- USDCV is expected to be used for on-chain transactions, foreign exchange, cross-border payments, collateral, and cash management.
Société Générale-Forge, the cryptocurrency subsidiary of the French financial group Société Générale, announced the launch of USD CoinVertible (USDCV), a US dollar-pegged stablecoin on the Ethereum and Solana blockchains.
According to Cointelegraph on the 10th (local time), USDCV is the second fiat-pegged stablecoin released by Société Générale-Forge, following the euro-pegged stablecoin (EURCV) launched in April 2023. The custodian has been designated as the UK financial company BNY Mellon.
The company stated, "USDCV will support 24/7 transactions between fiat and cryptocurrencies, as well as exchange between dollars and euros, enabling real-time trading for both currencies," adding, "It will be used for various purposes, including on-chain transactions, foreign exchange, cross-border payments, collateral, and cash management."
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
![Bitcoin retakes KRW 100 million amid reports of secret US-Iran contacts…$72,000 in focus [Kang Min-seung’s Trade Now]](https://media.bloomingbit.io/PROD/news/3beef0db-a8f6-4977-9dca-6130bf788a69.webp?w=250)
![[Analysis] “ETFs and short covering drove Bitcoin’s rebound…on-chain indicators are mixed”](https://media.bloomingbit.io/PROD/news/6c7dbd31-4aeb-400e-9c43-c2843062fc66.webp?w=250)