The crypto-exchange Bitstamp has listed the institutional stablecoin anchored to the euro by Societe Generale-FORGE (SG-FORGE), EUR CoinVertible (EURCV), issued on the Ethereum blockchain.
Summary
Bitstamp and the new crypto-listing of Societe Generale-FORGE’s institutional stablecoin
The popular crypto-exchange Bitstamp has announced the new crypto-listing of Eur CoinVertible (EURCV). This is the institutional stablecoin anchored to the euro and issued on Ethereum, by Societe Generale-FORGE (SG-FORGE).
“NEW! We are the first exchange to list $EURCV! EUR CoinVertible is the innovative stablecoin by Societe Generale-FORGE, aiming for stability and security in the volatile world of digital assets. You can start trading it on Bitstamp today. For more details: https://bit.ly/3RtZaMN”
Societe Generale-FORGE (SG-FORGE) is the subsidiary of Societe Generale Group dedicated to cryptoassets, authorized as a digital asset service provider (DASP) by the Autorité des Marchés Financiers (AMF).
This means that EURCV is the first euro stablecoin to be issued by a fully regulated subsidiary of a bank and that Bitstamp is the first crypto-exchange to list it.
Thanks to the listing on Bitstamp, SG-FORGE intends to facilitate access to EURCV, which is compliant with the French legal framework applicable to digital assets.
Bitstamp lists Societe Generale-FORGE’s stablecoin, which aims for security in the crypto market
The mission of Eur CoinVertible is to bring security to the crypto market, as well as stability in relation to the various price fluctuations of cryptocurrencies.
Specifically, SG-FORGE’s stablecoin also aims to meet the growing demand from investors for a solid store-of-value asset for on-chain transactions. Moreover, EURCV also represents an innovative solution for cash management and cash pooling activities.
In this regard, Jean-Marc Stenger, CEO of SG-FORGE, said:
“We are pleased to see EUR CoinVertible listed on the international exchange platform Bitstamp. With this listing, SG-FORGE offers the cryptocurrency ecosystem the opportunity to diversify their positions and access a robust and stable asset built on Societe Generale’s regulatory and structuring expertise. This is an important step towards widespread adoption of our stablecoin.”
Even Jean-Baptiste Graftieaux, CEO of Bitstamp, commented on the news:
“This partnership with Societe Generale-FORGE is the next step towards building markets that go beyond the current dominance of stablecoins backed by US dollars. We are privileged to have been chosen as the first crypto-exchange to list EURCV and we are excited to see how adoption will develop.”
The giant steps of crypto-exchange in Europe
Already at the beginning of October, Bitstamp had made headlines regarding its courting of European banks, following MiCA’s guidelines and increasing the EU’s trust in crypto.
In stark contrast to the USA and its confusing crypto regulatory framework, in fact, Bitstamp has expressed its interest towards Europe.
On the table for European banks, there could be its Bitstamp-as-a-service offering, a white-label package of licenses and technologies designed to enable banks and fintech companies to offer cryptocurrency trading services.
At the moment, the names of the three European banks involved have not been disclosed, but for sure the current listing of Eur CoinVertible is a confirmation of the European turn of the crypto-exchange.
.){kind=link}