Paris, December 6, 2023 – Société Générale-FORGE (SG-FORGE), an integrated and regulated subsidiary of Société Générale and approved as a Digital Asset Services Provider (PSAN) by the Financial Markets Authority (AMF), announces the listing of EUR CoinVertible (EURCV), its Euro stablecoin deployed on the public Ethereum blockchain, on the Bitstamp exchange platform.
With this listing, SG-FORGE intends to facilitate access to the EURCV. At the European level, the regulatory framework for digital assets is currently evolving with the adoption of “MiCA” regulations.1 and “Pilot Diet”2the CoinVertible EUR was designed, in accordance with the French legal system applicable to digital assets, to meet growing customer demands for:
- a robust settlement and store of value asset for transactions on the blockchain;
- an innovative solution for cash management and cash pooling activities;
- financing, liquidity and collateral management needs.
Players in the cryptoasset ecosystem as well as institutional investors in traditional financial markets will be able to transact on the basis of the same stable digital asset.
The full version of the EUR CoinVertible white paper is available here.
“We are delighted that the CoinVertible EUR is now listed on the international exchange Bitstamp. With this listing, SG-FORGE wishes to allow the crypto ecosystem to diversify its positions and have access to a robust and stable asset in the same way as institutional financial clients. This is an important step for broad adoption of our stablecoin. »
Jean-Marc Stenger, Managing Director of SG-FORGE
“As the first euro stablecoin issued by a fully regulated subsidiary of a global bank, this is a significant moment for our industry as we advance our mission of widespread adoption of cryptoassets. Stablecoins bridge the gap between traditional fiat currencies and cryptoassets – offering the best of both worlds through their stability and feature set – while supporting our goal of increasing financial inclusion. This partnership with Société Générale-FORGE is the next step in building markets beyond the current dominance of USD-collateralized stablecoins. We are proud to have been chosen as the first exchange to reference EURCV and look forward to seeing how its adoption plays out.”
Jean-Baptiste Graftieaux, CEO of Bitstamp
1 “MiCA” or Crypto-Asset Markets Regulation
2 Regulation (EU) 2022/858 of the European Parliament and of the Council of 30 May 2022 concerning a pilot scheme for market infrastructures based on distributed ledger technology and amending Regulations (EU) No 600/2014 and (EU) n ° 909/2014 and Directive 2014/65/EU.
About Société Générale-FORGE
Société Générale-FORGE, an integrated and regulated subsidiary of Société Générale, is approved as an investment firm and authorized to provide investment services within the meaning of MiFID 2 under the supervision of the Prudential Control and Resolution Authority (ACPR) and the supervision of the Financial Markets Authority (AMF), and is registered and approved as a Digital Asset Service Provider (PSAN) by the AMF. Société Générale-FORGE is developing an open, secure and institutional quality platform for operations on digital assets, meeting banking security and compliance standards. The solutions and digital assets developed by SG-FORGE comply with the CAST open-source interoperability and security model.
For more information, visit the sites www.sgforge.com And www.cast-framework.com.
About Bitstamp
Bitstamp is the world’s oldest cryptocurrency exchange, providing secure and open access to cryptos since 2011. With a proven track record and mature approach to the industry, Bitstamp offers a safe and transparent trading platform to over five millions of individuals, and is the preferred choice of various institutional clients seeking a trusted partner to participate in the cryptocurrency markets. Bitstamp is an industry leader in security and compliance, with over 50 licenses and registrations obtained from financial regulators around the world. For more information, visit bitstamp.net.
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