Coinfirm is proud to announce its support for a new stablecoin, the EUR CoinVertible (EURCV), launched by Societe Generale-FORGE, a fully integrated and regulated subsidiary of Societe Generale group dedicated to digital assets. This innovative stablecoin is designed to maintain a stable value and is deployed in Euro denomination on the Ethereum public blockchain.
The EUR CoinVertible is an ERC-20 based institutional euro stablecoin, with a maximum total supply of 10,000,000 EURCV. As a stablecoin, it is designed to maintain a stable value against the Euro, with its market capitalization also equaling 10,000,000 Euro. This project is a pioneering effort by Societe Generale, a major European bank, which demonstrates the growing importance and acceptance of digital assets in the financial sector.
This stablecoin aims to provide a robust settlement asset for on-chain transactions, innovative solutions for corporate treasury, cash management and cash pooling activities, on-chain liquidity funding and refinancing solutions, and a solution for intra-day liquidity needs, such as margin calls. EUR CoinVertible is backed by stringent collateral eligibility criteria, ensuring the complete segregation of the collateral assets held to back the value of the stablecoins from the issuer.
The launch of the EUR CoinVertible by Societe Generale-FORGE signifies the increasing adoption of digital assets by traditional financial institutions, bridging the gap between traditional capital markets and the digital assets ecosystem.
Coinfirm, as a blockchain analytics platform, supports and covers the stablecoin by providing analytics and insights from a security and compliance perspective.
The inclusion of the EUR CoinVertible on Coinfirm’s platform is an important development as it helps to enhance the stablecoin’s transparency, security, and adherence to relevant regulations. Coinfirm’s expertise in blockchain analytics plays a vital role in monitoring and analyzing the stablecoin’s activities, further bolstering investor confidence in this innovative digital asset.
