[DigitalToday reporter Yoonseo Lee (이윤서)] Regulated banks are using public blockchains, including XRP Ledger, as digital-asset infrastructure. An analysis said the next 18 months will hinge on which blockchains and regulatory frameworks can support broader adoption.

On June 3, blockchain outlet The Crypto Basic reported that finance firm Evernodes cited Societe Generale’s launch of its euro-pegged stablecoin EUR CoinVertible (EURCV) as the basis for that outlook.

Evernodes highlighted EURCV issued by SG-Forge, Societe Generale’s digital-asset unit. The stablecoin operates on several blockchains, including XRP Ledger, Ethereum, Stellar and Solana. Evernodes said EURCV has grown into one of the largest euro-denominated stablecoins in the market.

The key, it said, is the choice made by regulated financial institutions. Evernodes saw the fact that a major global bank put a regulation-compliant stablecoin on a public blockchain as a signal of each network’s suitability as financial infrastructure. It assessed XRP Ledger’s selection alongside Ethereum and Solana as placing it among a small group of networks able to accommodate regulated euro-based digital assets.

Evernodes said the market’s focus is moving beyond whether adoption happens to the scale of actual rollout. "The next 18 months will be about how much, on which chains, and under which set of rules," it said, adding that blockchain use by regulated finance comes down to which networks can consistently attract real product issuance.

Europe’s regulatory environment was also presented as an important backdrop. Evernodes said the European Union’s Markets in Crypto-Assets regulation, known as MiCA, has provided financial institutions with clearer standards for issuing and operating digital-asset products. The rules took full effect last year and were cited as a basis supporting regulated digital-asset infrastructure in Europe.

Evernodes said dollar-based stablecoins still dominate the market, but Europe is also gradually building its own regulated digital-currency infrastructure. It pointed to the EURCV launch as an example of that trend. As euro-denominated stablecoins begin operating on multiple public chains, competition is widening beyond issuance volume to include regulatory fit and network choice, it said.

It also mentioned a regulatory comparison with the United States. Evernodes placed MiCA’s role in Europe alongside moves in the United States to refine digital-asset regulation. It said proposals such as the CLARITY bill have emerged in the United States, while Europe is already operating a more concrete framework.

Evernodes also said blockchain adoption by traditional financial institutions is unlikely to proceed explosively as a single event. It forecast gradual expansion as compliance-focused banks and financial firms place real financial products on public blockchains one by one.

It said the key questions going forward will be which chains are additionally chosen as venues for issuing regulated stablecoins and which regulatory frameworks make real product launches easier for financial institutions. XRP Ledger, it said, showed through this case that it can be included among candidates for real-world use by regulated finance.

1/6 For everyone who's wondered when "real banks" will use blockchain: they already are. The next 18 months will be about how much, on which chains, and under which set of rules. One of Europe's biggest banks has put its euro stablecoin on XRP. Here's why that matters. … pic.twitter.com/iLcDFd0itK