Société Générale-FORGE (SG FORGE), the digital asset subsidiary of Société Générale, one of France’s largest multinational banks, has partnered with Consensys to bring its Markets in Crypto Assets Regulation (MICA)-compliant USD CoinVertible (USDCV) stablecoin into MetaMask.

 

The partnership, announced in a recent press release, will see USD CoinVertible (USDCV), one of the few regulated stablecoins issued by a major traditional bank, among the few shortlisted stablecoins available on MetaMask.

 

 

To appeal to all kinds of users, including retail and institutional users, the USDCV stablecoin is fully regulated and compliant, with full reserves and one to one backing to the US dollar. It is backed by cash and cash equivalents, with BNY Mellon serving as its reserve custodian.

 

Apart from helping bridge the gap between traditional finance and decentralized finance, the integration also creates a robust, secure, and transparent environment for users, including retail and institutional users looking to conduct blockchain transactions and decentralized finance interactions.

 

With support from global payments infrastructure company Transak, users will be able to perform on ramp and off ramp activities with the USDCV stablecoin within the MetaMask app, while also being able to trade crypto assets with it.

 

Speaking on the integration, Jean Marc Stenger, CEO of Société Générale FORGE, said the integration is aimed at accelerating the emergence of an interoperable financial system that combines the advantages of blockchain technology with the security and compliance of an European Union regulated stablecoin supported by one of Europe’s largest banks.

 

SG-FORGE Ramps Up its Crypto Efforts

Société Générale, through its digital asset subsidiary SG FORGE, has continued to bridge the gap between traditional finance and decentralized finance, integrating its EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) stablecoins across different traditional finance and crypto ecosystems.

 

In January of this year, SG FORGE, in partnership with payments giant SWIFT, ran an interoperability test on SWIFT’s payment system, using its EURCV stablecoin as a means of exchange and for tokenized bond settlement, an experiment that was marked as successful.

 

In November last year, SG FORGE integrated its EURCV and USDCV stablecoins into the system of Deutsche Börse Group, one of the world’s leading financial market infrastructure providers. This integration enabled token based cash solutions, settlement, and a broader use of stablecoins at institutional grade, closing the gap between core crypto users and traditional capital markets.

 

SG FORGE stablecoin assets have been integrated across other blockchain infrastructures, including decentralized finance lending platform Morpho and decentralized exchange Uniswap. The EURCV and USDCV stablecoin assets have also been deployed on some layer-1 chains, notably Ethereum, Solana, XRP Ledger, and Stellar, supporting a wide variety of blockchain use cases.