•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
Societe Generale-FORGE, the crypto arm of French banking group Societe Generale, has deployed its euro-denominated stablecoin, EUR CoinVertible (EURCV), on the Stellar blockchain, completing a multichain expansion first announced in 2025.
EUR CoinVertible is designed to comply with the European Union’s Markets in Crypto-Assets (MiCA) framework. The token represents a tokenized euro issued by SG-FORGE for use in digital asset markets.
According to the company, the Stellar deployment is intended to broaden the stablecoin’s use across blockchain-based financial applications and tokenized asset services. SG-FORGE said Stellar offers high transaction throughput, low network fees, and built-in support for tokenized assets, alongside a decentralized exchange that enables users to trade digital assets directly onchain.
SG-FORGE first launched EUR CoinVertible on Ethereum in April 2023. The stablecoin is fully backed by reserves consisting of bank deposits and high-quality liquid assets on a one-to-one basis. DefiLlama data cited in the article puts the stablecoin’s current market cap at around $452 million.
The Stellar rollout comes weeks after SG-FORGE deployed EUR CoinVertible on the XRP Ledger, making it the token’s third blockchain network after Ethereum (ETH) and Solana (SOL).
In January, the stablecoin was used by global banking network SWIFT in a pilot that demonstrated the exchange and settlement of tokenized bonds using both fiat and digital currencies.
Despite growing interest in euro-denominated tokens, the stablecoin market remains dominated by US dollar-backed assets. Tether’s USDT has a market capitalization of about $185 billion, representing nearly 60% of the sector, while Circle’s USDC accounts for roughly $78 billion.
The article also notes that adoption of digital dollars accelerated in the US after the GENIUS Act passed in July 2025, providing regulatory clarity for stablecoin issuers. Total market capitalization rose from around $260 billion on July 20 to more than $314 billion today, according to DefiLlama data.
Europe has taken a more restrictive approach. The EU’s MiCA framework introduced new rules for stablecoin issuers in June 2024, requiring companies operating in the European Economic Area to obtain an e-money license in at least one EU member state.
The regulation prompted several exchanges—including Coinbase, OKX, Bitstamp, Uphold and Binance—to remove or restrict support for stablecoins that had not secured authorization under the framework. Tether also decided it would discontinue its euro-pegged stablecoin EURT.
In November, European Central Bank officials warned that the growth of US dollar–backed stablecoins could weaken Europe’s monetary sovereignty by increasing reliance on dollar-denominated digital assets.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
