The euro stablecoin EURCV launched by Société Générale has been listed on Bitstamp

ChainCatcher news, according to the Financial Times, Société Générale has become the first major bank to launch a stablecoin, the EUR CoinVertible (EURCV), pegged to the euro, on Bitstamp.

Société Générale's digital assets division, SocGen Forge, stated that the bank hopes its stablecoin will be used for settling transactions of digital bonds, funds, and other assets. This stablecoin is in line with the upcoming Markets in Crypto-Assets (MiCA) regulation, which will take effect next year, emphasizing that "few stablecoins meet MiCA standards." Axa Investment Managers has already used Société Générale's stablecoin to invest in a digital green bond.