French bank Societe Generale, through its digital assets subsidiary Societe Generale-FORGE, announced the deployment of its EUR and USD CoinVertible stablecoins on the Canton Network. This move allows the bank to more efficiently manage collateral and short-term financing operations related to tokenized assets. This is reported by Cointelegraph.com reports .
SG-FORGE plans to use its EURCV and USDCV stablecoins for settlements, financing, and cash management in permitted jurisdictions. The bank will also participate in the Canton Network as a strategic partner and validator. It is worth noting that these stablecoins are not registered under U.S. securities laws and are intended only for permitted participants outside the U.S.
According to DeFiLlama, the current market capitalization of the EURCV stablecoin is approximately $97 million, while USDCV stands at $20 million. The bank issued tokenized green bonds on this network last year. Recently, the USDCV stablecoin was integrated into the MetaMask wallet as part of a partnership with Consensys.
Financial institutions' interest in blockchain technology is growing. Specifically, JPMorgan plans to launch a tokenized money market fund on the Ethereum network, while DTCC is integrating Chainlink infrastructure into its platform. According to RWA.xyz, the volume of tokenized real-world assets on blockchain networks worldwide has exceeded $31.6 billion.
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