Societe Generale's digital asset subsidiary, SG-FORGE, is set to launch its euro stablecoin, EUR CoinVertible (EURCV), on the XRP Ledger after its initial release on Ethereum in 2023 and an announced expansion to Solana. This move is part of a broader multichain strategy aimed at enhancing the stablecoin's usability in the face of limited traction on Ethereum. The EURCV has reported a total issuance of 38 million, significantly trailing behind leading dollar stablecoins like Tether's USDT, which stands at $126 billion. With plans for 2025, the deployment on XRPL will allow SG-FORGE to leverage its capabilities for cross-border payments and tokenization, promoting faster and cheaper transactions. Ripple's Markus Infanger emphasized that integrating stablecoins like EURCV within the XRPL is crucial for enabling institutional applications in payments. As global interest grows in stablecoins for more efficient money transfer solutions, financial institutions, including banks like BBVA, are also venturing into the stablecoin market, signaling an increasing trend towards regulation and innovation in the space.

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