- The major French bank Société Générale is now making its Euro stablecoin “EUR CoinVertible”, which was introduced in 2023 and available on Ethereum and Solana, also available on the XRP Ledger.
- This expands its multi-chain strategy, supported by Ripple’s custody service. The EURCV is one of the few fully regulated Euro stablecoins issued by a well-known major European bank.
The “executing body” is the subsidiary SG‑FORGE, which is wholly owned by Société Générale. It is subject to French banking supervision and meets the requirements of the MiCA regulation, which will become mandatory in the European Union from July 2026.
The Bank explainedthat the EURCV is covered one-to-one and was primarily developed for institutional applications. The expansion to the XRP Ledger creates additional interoperability so that Euro liquidity can be used on several chains in parallel.
This is particularly relevant for tokenized securities, onchain settlement and automated treasury processes.
XRPL as infrastructure for institutions
The XRP ledger has been the specialized infrastructure for fast, cost-effective and final transactions for years. For banks and institutional issuers, the combination of efficiency, legally sound regulation and technical stability is crucial.
As part of the integration, Ripple provides its Ripple Custody service, which is required for the custody and issuance of bank-grade digital assets.
SG‑FORGE also points to the suitability of XRPL for tokenized financial instruments, an area in which Société Générale is already active, such as digital bonds and onchain repo transactions.
Importance for the EU digital asset market
The availability of a regulated Euro stablecoin on the XRP Ledger strengthens its position in the institutional segment and goes hand in hand with the growing importance of European stablecoins as a basis for tokenized capital markets.
For Ripple, the cooperation is a further step towards establishing itself as an infrastructure provider for banks.
For Société Générale, the multi-chain strategy serves the goal of being able to offer its digital financial products flexibly, interoperably and across multiple channels.
The integration of EURCV on XRPL was an important step towards this goal.
More will follow.
No Comments