SOCIETE GENERALE-FORGE ANNOUNCES A PLAN TO DEPLOY THE EUR COINVERTIBLE STABLECOIN ON SOLANA NETWORK

Press release
Paris, September 20, 2024

Societe Generale-FORGE (SG-FORGE) will integrate the EUR CoinVertible (EURCV) MiCA-compliant stablecoin on Solana’s high-performance network, providing users with faster, more efficient, and
cost-effective access to digital payments and decentralized finance (DeFi) applications.

By deploying its stablecoin EUR CoinVertible (EURCV) on Solana, SG-FORGE intends to improve the user experience on various DeFi platforms, payment solutions and other decentralized applications. The Solana network stands out for its ability to handle tens of thousands of transactions per second (TPS), making it one of the fastest blockchains in the industry. The network offers the scalability necessary to support global adoption of digital assets, while maintaining low transaction costs, an essential factor for stablecoins used in everyday payments and cross-border remittances.

This integration will allow users to send, receive, and trade the stablecoin with minimal costs and near instant transaction finality crucial attributes for fostering broader adoption of stablecoins in both retail and institutional markets.

Through the distribution on Solana, users will benefit from:

• Ultra-low fees: Transaction fees as low as a fraction of a cent, enabling seamless micropayments.
• Lightning-fast transactions: Finality in seconds, making it ideal for real-time use cases like payments and decentralized exchanges (DEXs).
• Enhanced scalability: Solana’s infrastructure has proven to support mass adoption without compromising speed or efficiency.

The deployment of EURCV stablecoin (EURCV) on Solana will expand its use cases within the DeFi ecosystem. Users will be able to utilize the stablecoin for liquidity provision and other decentralised finance activities. Additionally, this integration will empower developers within the Solana ecosystem to build new DeFi applications that benefit from the reputation and stability of the investment grade assets backed stablecoin.

“This planed deployment marks a new milestone in SG-FORGE’s growth. The combination of Solana’s high speed network and SG-FORGE’s reliable, secure stablecoin will unlock new possibilities for both retail users and institutional players in DeFi ” said Jean-Marc Stenger, CEO of Societe Generale-FORGE.

“We are thrilled to welcome Societe Generale-FORGE and it’s EURCV stablecoin to the Solana ecosystem. Stablecoins are a key component of the DeFi landscape, and the introduction of EURCV, a MiCA compliant
stablecoin, on Solana will bring a powerful new option for users looking for speed, efficiency, and stability” said Nick Ducoff, Head of Institutional Growth, Solana Foundation.

The EURCV MiCA white paper is available here.

Press contacts:
SG FORGE – Agence de presse Ballou
Caroline de Frias, Astrid Amegnran, Thomas Duporge, +33 1 42 22 24 10, sg-forge@balloupr.com
Societe Generale
Sarah Cohen Lippe, +33 1 58 98 51 91, sarah.cohen-lippe@socgen.com