Societe Generale-Forge (SG-Forge), a regulated subsidiary of the French banking firm Societe Generale (OTC:SCGLY), has launched EUR CoinVertible, the euro-pegged stablecoin for qualified institutional clients.
Announcing the news on April 20, SG-Forge said that the new stablecoin is based on the Ethereum blockchain and will be traded under the ticker symbol EURCV. The new digital asset will be only available to investors onboarded by Societe Generale through its existing Know Your Customer and Anti-Money Laundering procedures.