French bank ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/societe-generale” target=”_blank”>Societe Generale will launch a dollar-backed stablecoin via its ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/crypto-subsidiary” target=”_blank”>crypto subsidiary SG-FORGE, becoming the first major European lender to launch a dollar-pegged cryptocurrency in the booming market for ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/stablecoins” target=”_blank”>stablecoins.
The cryptocurrency, called ” ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/usd-coinvertible” target=”_blank”>USD CoinVertible“, will exist on the Ethereum and ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/solana” target=”_blank”>Solana blockchains and is expected to be publicly tradable from July, SG-FORGE said in a statement on Tuesday. BNY Mellon will be the custodian for its reserves, SocGen said.
SocGen’s crypto arm had already launched a euro-based stablecoin, in 2023 but…
