Hua Xia Shi Bao·2025-06-12 08:33Group 1 - Societe Generale's subsidiary SG-FORGE plans to issue a publicly traded USD stablecoin, USD CoinVertible (USDCV), with trading expected to start in July [1][2] - SG-FORGE previously launched a euro stablecoin, EUR CoinVertible (EURCV), in 2023, but it has seen limited adoption, with a current circulating value of €41.8 million (approximately $47.62 million) [2][4] - The issuance of USDCV aims to meet the growing demand for regulated USD stablecoins and will support various customer activities, including crypto trading and cross-border payments [4][5] Group 2 - The USD stablecoin will be issued on Ethereum and Solana blockchains, allowing for 24/7 instant conversion between fiat and digital currencies [2][4] - BNY will act as the asset custodian for USDCV, enhancing the operational credibility of the stablecoin [2] - The launch of USDCV positions SG-FORGE to compete with existing stablecoins like USDC and USDT, as well as future bank-issued USD stablecoins [5][10] Group 3 - The global stablecoin market is seeing increased interest from various banks, including Deutsche Bank, Standard Chartered, and major U.S. banks, which are exploring their own stablecoin initiatives [6][8] - Stablecoins are characterized by their pegging to stable assets, making them suitable for various financial functions, including payment methods and value measurement [6] - The competitive landscape for stablecoins is expected to diversify, with banks leveraging their existing infrastructure and customer bases to promote their stablecoin offerings [10]