The ECB seats 61 advisers, and 19 of them back a euro stablecoin
The Eurosystem published the 61 members of the Appia contact group, the forum that will advise it on settling tokenized assets in central bank money.
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.
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.
Coverage
Developments in which Societe Generale-FORGE is a named party, newest first.
On the record
Eurosystem names the 61 members of its Appia contact group
The ECB published on 19 August 2026 the 61 participants selected to advise the Eurosystem on Pontes and on the Appia roadmap, replacing two earlier groups from September 2026. Nineteen seats belong to the Qivalis euro stablecoin consortium or to Qivalis itself. Axiology said a day later that Pontes goes live on 21 September with four registered DLT operators.
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.
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.