[DigitalToday reporter Chi-gyu Hwang (황치규)] SG-FORGE, the digital asset unit of French banking group Societe Generale, is accelerating its multichain strategy by deploying its euro-backed stablecoin EUR CoinVertible on the XRP Ledger, Cointelegraph reported on Tuesday.
EUR CoinVertible is deployed on the XRP Ledger as its third network, following Ethereum and Solana. Cointelegraph reported that support from Ripple custody infrastructure has increased the likelihood of future integration with Ripple products.
SG-FORGE said the move will make it easier for institutions to access euro-based tokens. The launch comes one month after SWIFT ran a pilot for tokenised bond exchanges and settlements using Societe Generale's euro-pegged stablecoin. SG-FORGE stressed that EUR CoinVertible is the first MiCA-compliant digital asset directly integrated into SWIFT's interoperability framework.
Chi-gyu Hwang
delight@d-today.co.kr