Société Générale-Forge Launches USD-denominated Stablecoin

USDCV aims to provide seamless access to the stablecoin market, offering 24/7 conversions between fiat currencies and digital dollars or euros. According to the company, this settlement will enable real-time settlement of transactions in both US dollars and euros.

Stablecoins are a multi-purpose instrument

The company said both USDCV and EURCV are intended for a wide range of use cases, including crypto trading, cross-border payments, onchain settlement, foreign exchange transactions, and collateral and cash management.

The company added that the stablecoins will be listed on multiple cryptocurrency exchanges and made available to institutional, corporate and retail investors through brokers and payment service providers. USDCV trading is expected to start in July, but neither it nor EURCV will be available to US-based persons, the company said.

Stablecoins gain momentum globally

Stablecoins are making headway in global adoption as regulatory clarity improves. A recent report indicates that $94.2 billion in stablecoin transactions were settled between January 2023 and February 2025.

In South Korea, the government is moving forward with crypto legislation that could pave the way for domestic stablecoin issuance, a key campaign promise of President Lee Jae-myung.

In the US, upcoming stablecoin regulation is reportedly pushing major tech firms, such as Apple, X and Airbnb, to explore digital token integration. Elsewhere, recent photos of a Bolivian airport shop show prices set in Tethers USDt (USDT) stablecoin, suggesting growing unofficial use after a local bank started providing USDT custody last year.

Ridesharing giant Uber is reportedly in the “study phase” of using stablecoins to help reduce the costs associated with international money transfers. Payment giant Stripe is also said to be holding early discussions with banks about potentially integrating stablecoins.