Yigit Taha OZTURK 
The transformation of traditional finance continues to accelerate as legacy institutions step into the blockchain arena. French banking giant Société Générale is taking another significant leap by launching a new US dollar-backed stablecoin that will operate on both the Ethereum and Solana blockchains.
Introducing USD CoinVertible (USDCV)
On June 10, Société Générale-Forge announced the launch of USD CoinVertible (USDCV), a new stablecoin pegged to the US dollar. Built to function across Ethereum and Solana, the coin’s reserves will be safeguarded by UK-based financial services firm BNY, lending strong institutional credibility to the project.
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This launch follows the company’s euro-pegged EUR CoinVertible (EURCV) released in April 2023. CEO Jean-Marc Stenger stated that offering a US dollar counterpart was the logical next step as stablecoin adoption accelerates worldwide.
Real-Time Settlement and Broader Use Cases
The new USDCV is designed to enable seamless 24/7 conversions between fiat and digital currencies. It supports a wide range of use cases, from crypto trading and cross-border payments to foreign exchange operations and onchain settlement.
Expected to begin trading in July, USDCV will be listed on several cryptocurrency exchanges. Institutional, corporate, and retail clients will access the coin via brokers and payment service providers. However, neither USDCV nor EURCV will be accessible to US residents.
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