EUR CoinVertible

EUR CoinVertible is a euro-denominated stablecoin issued by SG-FORGE, the digital asset subsidiary of Societe Generale, one of France's largest banks. It is one of the few stablecoins issued directly by a major European banking group rather than by a crypto-native company.

How EURCV works

Each token is backed by euro reserves held by the issuer and is designed to maintain a one to one value against the euro. Because SG-FORGE operates within the European regulatory perimeter, the token is structured to comply with the Markets in Crypto-Assets regulation, the EU framework governing stablecoin issuance and reserve requirements. Its categorisation identifies it as a MiCA-compliant stablecoin.

The token has no maximum supply. Tokens are minted when euros are deposited and burned when they are redeemed, so supply reflects demand rather than a fixed schedule, currently around 140 million. EURCV is issued across several networks, with the categorisation listing the Ethereum, Solana, Stellar, and XRP Ledger ecosystems, making it one of the more widely deployed euro stablecoins.

Role in the ecosystem

Euro stablecoins are considerably smaller than dollar stablecoins in aggregate supply, but they serve users and businesses that need euro-denominated settlement without dollar exposure. EURCV's position rests on the credibility of a regulated bank issuer and on MiCA compliance, which matters for European institutions that face constraints on which stablecoins they can hold. It competes with other euro tokens issued by both banks and crypto-native firms. Deployment across several networks matters for a payment token, since it determines where the asset can actually be used for settlement. A euro stablecoin available only on one chain is limited to whatever applications exist there, while multi-chain issuance widens the range of venues and protocols that can accept it.