SOCIETE GENERALE-FORGE LISTS ITS STABLECOIN ON CRYPTO EXCHANGE PLATFORM BITSTAMP
EUR CoinVertible becomes the first institutional euro stablecoin to be listed on one of the world’s leading cryptoasset exchange platforms: Bitstamp.
Press release
Paris, December 6, 2023 – Societe Generale-FORGE (SG-FORGE), the Societe Generale Group’s subsidiary dedicated to cryptoassets, licensed as a digital asset service provider (DASP) with the Autorité des Marchés Financiers (AMF), announces the listing of its EUR stablecoin issued on the Ethereum public blockchain EUR CoinVertible (or EURCV) on the crypto exchange Bitstamp.
With this listing, SG-FORGE intends to facilitate access to EURCV. While the regulatory framework related to digital assets at European level will be modified by the upcoming European digital assets regulations MiCA[1] and Pilot Regime[2], EUR CoinVertible, in accordance with the French legal framework applicable to digital assets, aims to meet growing customer demand for:
- a robust settlement and store-of-value asset for on-chain transactions;
- an innovative solution for cash management and cash pooling activities;
- enhanced collateral management.
The full version of the EUR CoinVertible white paper is available here.
With this listing, investors in the cryptoasset ecosystem as well as traditional financial markets participants will be able to operate transactions based on the same stable digital asset.
“We are delighted to see EUR CoinVertible listed on the international exchange platform Bitstamp. With this listing, SG-FORGE offers the opportunity to the crypto ecosystem to diversify its positions and gain access to a robust, stable asset built on Societe Generale’s regulatory and structuring expertise. This is an important step towards widespread adoption of our stablecoin.” Jean-Marc Stenger, Chief Executive Officer, SG-FORGE
“As the first EUR stablecoin to be issued by a fully regulated subsidiary of a global bank, this is an exciting moment for our industry as we move towards our mission of mainstream adoption of crypto. Stablecoins bridge the gap between traditional fiat currencies and cryptocurrencies – offering the best of both worlds due to their stability and on-chain feature set – whilst also supporting our goal of increased financial inclusion. This partnership with Societe Generale-FORGE is the next step in building markets beyond the current dominance of USD-backed stablecoins. We are privileged to have been chosen as the first crypto exchange to list EURCV and we are excited to see how adoption unfolds”. Jean-Baptiste Graftieaux, CEO of Bitstamp
About Societe Generale-FORGE
Societe Generale-FORGE, a fully integrated and regulated subsidiary of Societe Generale Group, is licensed as an investment firm and authorized to provide MiFID 2 investment services under the supervision of the ‘Autorité de Contrôle Prudentiel et de Résolution’ (ACPR) and under the control of the AMF and is registered and licensed as a DASP (PSAN) by the AMF. Societe Generale-FORGE has built an open, secure and institutional-grade platform for digital assets operations, underpinned by full banking level safety and regulatory compliance. The solutions and digital assets developed by SG-FORGE comply with the CAST open-source interoperability and securitization framework. For more information, visit www.sgforge.com and www.cast-framework.com.
Media contact:
Ballou
Caroline de Frias, Astrid Amegnran, Thomas Duporge
About Bitstamp
Bitstamp is the world’s longest-standing cryptocurrency exchange, continuously providing safe and open access to crypto since 2011. With a proven track record and mature approach to the industry, Bitstamp provides a secure and transparent trading venue to over five million individuals and is the preferred choice for a range of institutional clients seeking a trusted partner to participate in crypto markets. Bitstamp is a sector leader in both security and compliance, with more than 50 licences and registrations secured with financial regulators across the globe.
More info is available at https://www.bitstamp.net/
Media contact:
Europe – Pagefield PR
[1] “MiCA” or Regulation on crypto-asset markets
[2] Regulation (EU) 2022/858 of the European Parliament and of the Council of May 30, 2022 on a pilot scheme for market infrastructures based on distributed ledger technology and amending Regulations (EU) No 600/2014 and (EU) No 909/2014 and Directive 2014/65/EU
