Societe Generale’s subsidiary, SG-FORGE, has introduced its stablecoins EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) on the Morpho and Uniswap platforms.
Within the Morpho protocol, the company has launched lending markets. Users can lend and borrow EURCV and USDCV against collateral such as Bitcoin, Ethereum, and tokenized money market funds. Risk management and the list of collateral assets will be overseen by MEV Capital.
On the decentralized exchange Uniswap, a spot market for stablecoins has been established. This enables direct trading of assets. Liquidity for trading pairs will be provided by market maker Flowdesk.
The Fed and Stablecoins
Christopher Waller, a member of the Board of Governors of the Federal Reserve, stated that there is no need to fear new technologies like fiat-pegged coins. He views them as another form of private money, which fosters choice and competition in the market.
Waller emphasized that stablecoins can reduce costs and enhance payment efficiency, particularly in cross-border transactions. However, he noted the importance of “sensible” regulation to protect users and ensure financial stability.
According to Waller, the private sector should lead in innovation, while the government’s role is to establish clear rules and support the industry.
Back in June, SG-FORGE introduced the MiCA-compliant stablecoin USDCV.