Societe Generale launched trading of its stablecoin – Kommersant
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French bank Societe Generale launched trading your stablecoin EUR CoinVertible on the Luxembourg cryptocurrency exchange BitStamp.
The stablecoin was announced by Societe Generale Forge, a division specializing in working with digital assets, in April of this year. During this time, the bank’s division managed to obtain a license for a service provider related to digital assets from the French regulator and launched the issuance of tokens based on the Ethereum blockchain. EUR CoinVertible is pegged to the euro exchange rate.
“The cryptocurrency ecosystem is highly concentrated around a few stablecoins, 90% of which are pegged to the US dollar. We believe that in this market there is a place for a bank and a stablecoin pegged to the euro,” he said in an interview Financial Times head of Societe Generale Forge Jean-Marc Stanger.
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