SocGen’s Crypto Arm to Launch Dollar Denominated Stablecoin on Ethereum, Reports Say
Société Générale’s crypto arm, SG Forge, is reportedly preparing to launch a dollar-backed stablecoin on Ethereum, making it the first global banking group to issue a public stablecoin tied to the U.S. dollar.
SG Forge’s dollar stablecoin would be publicly accessible on Ethereum, with additional support for Solana to follow. The launch is expected in the coming weeks, according to a report by French publication The Big Whale.
The move would expand SG Forge’s footprint in the digital asset space following the 2023 debut of its euro stablecoin, EURCV.
The token would initially serve institutional investors, leveraging SG Forge’s e-money license to operate legally across the European Union, according to the report.
The shift would…
