{"id":7761,"date":"2023-12-06T13:12:28","date_gmt":"2023-12-06T13:12:28","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=7761"},"modified":"2023-12-06T13:12:28","modified_gmt":"2023-12-06T13:12:28","slug":"societe-generale-launches-stablecoin-initiative","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/societe-generale-launches-stablecoin-initiative\/","title":{"rendered":"Societe Generale Launches Stablecoin Initiative"},"content":{"rendered":"<p data-sourcepos=\"5:1-5:174\">French bank Societe Generale, which has assets of over \u20ac2.7 trillion, has launched a euro-based stablecoin called EUR CoinVertible.<\/p>\n<blockquote>\n<p data-sourcepos=\"5:1-5:174\">You might like: <a href=\"https:\/\/coinengineer.net\/blog\/coinbase-launches-a-new-service-via-social-media\/\" target=\"_blank\" rel=\"noopener\"><span style=\"text-decoration: underline;\"><em><strong>Coinbase Launches a New Service via Social Media<\/strong><\/em><\/span><\/a><\/p>\n<\/blockquote>\n<p data-sourcepos=\"7:1-7:285\">Societe Generale is the first bank in the world to issue a fiat-backed stablecoin. The bank makes it available to a wide audience. EUR CoinVertible is now trading on <strong>Bitstamp<\/strong>, a cryptocurrency exchange based in Luxembourg, and is also notable for its compliance with the MiCA regulations.<\/p>\n<p data-sourcepos=\"7:1-7:285\"><img loading=\"lazy\" decoding=\"async\" class=\"size-large wp-image-7763 aligncenter\" src=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/12\/Societe-Generale-1-1024x512.jpg\" alt=\"Societe Generale 1\" width=\"1020\" height=\"510\" srcset=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/12\/Societe-Generale-1-1024x512.jpg 1024w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/12\/Societe-Generale-1-300x150.jpg 300w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/12\/Societe-Generale-1-768x384.jpg 768w, https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2023\/12\/Societe-Generale-1.jpg 1250w\" sizes=\"auto, (max-width: 1020px) 100vw, 1020px\" \/><\/p>\n<p data-sourcepos=\"9:1-9:227\">EUR CoinVertible is a fully collateralized stablecoin, which means that it is backed by a reserve of euro-denominated assets. The reserve is held by Societe Generale and is managed by its subsidiary, Societe Generale-FORGE.<\/p>\n<p data-sourcepos=\"11:1-11:502\">Jean-Marc Stenger, CEO of Forge, the bank&#8217;s digital assets unit, said that a euro-backed stablecoin was an element that was missing in the cryptocurrency world. He said, &#8220;The cryptocurrency ecosystem is largely based on dollar-pegged stablecoins. As a company, we believe that there is a place for a bank and a stablecoin for the euro in this space. To attract the interest of cryptocurrency investors, it is necessary to follow familiar paths. This also includes listing that coin on an exchange.&#8221;<\/p>\n<p data-sourcepos=\"13:1-13:342\">Stenger also stressed that EUR CoinVertible is compliant with the MiCA standards and that there are very few stablecoins with this feature. He said: &#8220;We believe that EUR CoinVertible is a unique product that meets the needs of both consumers and businesses. It is a safe and reliable way to store and transfer euros in the digital world.&#8221;<\/p>\n<hr \/>\n<p data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube,<\/strong><\/a>\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>French bank Societe Generale, which has assets of over \u20ac2.7 trillion, has launched a euro-based stablecoin called EUR CoinVertible. You might like: Coinbase Launches a New Service via Social Media Societe Generale is the first bank in the world to issue a fiat-backed stablecoin. The bank makes it available to a wide audience. EUR CoinVertible<\/p>\n","protected":false},"author":1,"featured_media":7762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[1941,2815,2814,2813,488],"class_list":["post-7761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-bitstamp","tag-eur-coinvertible","tag-mica","tag-societe-generale","tag-stablecoin"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Societe Generale Launches Stablecoin Initiative - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Societe Generale, which has assets of over \u20ac2.7 trillion, has launched a euro-based stablecoin called EUR CoinVertible.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/societe-generale-launches-stablecoin-initiative\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Societe Generale Launches Stablecoin Initiative - 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