Issuer

Societe Generale-FORGE

Issuer of the CoinVertible tokens EURCV and USDCV, liabilities of a subsidiary of a systemically important European bank rather than of a standalone issuer; USDCV has traded on Ethereum and Solana since July 2025 with BNY as reserve custodian.

Kind Issuer

Jurisdiction European Union

Stories filed 0

The profile

Digital asset subsidiary of Societe Generale, licensed as an electronic money institution by the French ACPR, authorised as a MiFID II investment firm under ACPR and AMF supervision, and registered with the AMF as a digital asset service provider since July 2023. It issues CoinVertible: the euro token EURCV, launched in April 2023 and restructured from 30 June 2024 into a MiCA electronic money token freely transferable without whitelisting, and the dollar token USDCV, which began trading in July 2025 on Ethereum and Solana with BNY as reserve custodian. Both are liabilities of a subsidiary of a systemically important European bank rather than of a standalone issuer, which is what distinguishes them from the dollar tokens that dominate circulation; neither is offered to US persons.

Products and services

EUR CoinVertible (EURCV): Euro electronic money token issued under MiCA since 30 June 2024, deployed on Ethereum and transferable without a whitelist, with Wintermute as a dedicated liquidity provider.
USD CoinVertible (USDCV): Dollar electronic money token trading from July 2025 on Ethereum and Solana, with BNY as reserve custodian and round-the-clock conversion between fiat and token.
Smart Cash: Onchain instrument offered to clients as an alternative to certificates of deposit for short-term cash management.

No development naming Societe Generale-FORGE has yet been filed against a primary source. The register entry stands so the institution, its jurisdiction and its products are on the record.

On the record

27 Apr 2021

European Investment Bank issues a €100m digital bond on Ethereum

The European Investment Bank issued a €100m two-year zero-coupon bond as digitally native tokens registered on the Ethereum public blockchain, priced at 101.213% for a re-offer yield of -0.601% and maturing on 28 April 2023. Goldman Sachs, Santander and Societe Generale were joint lead managers, Societe Generale-FORGE acted as registrar and settlement agent, and the underwriters paid the issuer using a representation of central bank money provided with the Banque de France.

18 Apr 2019

Societe Generale issues a covered bond as a security token on Ethereum

Societe Generale SFH issued €100m of covered bonds as security tokens registered on the Ethereum public blockchain, rated Aaa by Moody's and AAA by Fitch and fully subscribed by Societe Generale itself. It was the first covered bond tokenized on a public network by a large European bank, though no third-party investor took the paper.

Issuance European Union Corporate debt Societe Generale: Societe Generale issued the first covered bond as a security token on a public blockchain ↗

Official

www.sgforge.com ↗

Analysis

The euro stablecoin gap

Sources

SG Forge: SG-FORGE to launch a USD denominated stablecoin on Ethereum and Solana with BNY as reserve custodian sgforge.com · 25 Jul 2026
SG Forge: Societe Generale-FORGE elevates the EUR CoinVertible stablecoin sgforge.com · 25 Jul 2026
SG Forge sgforge.com · 25 Jul 2026