Societe Generale launches USD stablecoin USDCV on Ethereum and Solana

On June 10th, according to Cointelegraph, Soci é t é G é n é rale Forge, a cryptocurrency subsidiary of Soci é t é G é n é rale, announced the launch of a new stablecoin pegged to the US dollar. According to the announcement released on June 10th, this stablecoin is called USD CoinVertible (USDCV) and will be issued on the Ethereum and Solana blockchains. British financial services company BNY will serve as the custodian of the assets behind the stablecoin. This release is another move by the company after launching the Euro pegged stablecoin EUR CoinVertible (EURCV) in April 2023, which was then issued to institutional clients.