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
![[Today’s Key Economic and Crypto Events] U.S. Initial Jobless Claims, South Korea First-Quarter GDP Due April 23](https://media.bloomingbit.io/static/news/brief.webp?w=250)
