Société Générale-Forge has introduced USD CoinVertible (USDCV), a new US dollar-pegged stablecoin operating on both the Ethereum and Solana blockchains.
The stablecoin is backed by reserve assets safeguarded by BNY Mellon and designed to facilitate 24/7 fiat-to-stablecoin conversions. USDCV aims to provide institutional and retail users with a reliable and compliant digital dollar solution for trading, cross-border payments, and on-chain settlements.
Jean-Marc Stenger, CEO of Société Générale-Forge, stated that USDCV represents a strategic expansion into multi-currency stablecoins, following the successful launch of the MiCA-compliant EUR CoinVertible (EURCV).
The dual-chain deployment enhances interoperability and scalability, catering to diverse DeFi applications and institutional requirements. Trading for USDCV is expected to commence in July, leveraging Ethereum’s smart contract capabilities and Solana’s high throughput for efficient transactions.
This launch aims to enhance digital dollar transactions and drive broader adoption in global markets.