Breaking new ground, Societe Generale is rolling out a dollar-pegged stablecoin, marking the first major bank-backed entry into the fast-growing stablecoin market.
Dubbed “USD CoinVertible”, the token will launch on Ethereum and Solana in July, enabling seamless blockchain-based dollar transactions. Stablecoins have become a cornerstone of crypto markets, offering stability amid volatility.
While Tether dominates with $155 billion in supply, SocGen’s move could attract institutional players. However, its 2023 euro stablecoin remains niche, with just €41.8 million in circulation—raising questions about adoption.
