Societe Generale’s EURCV gains $5.6M, second-fastest-growing euro stablecoin

Societe Generale’s digital asset subsidiary, SG Forge, has seen its EUR CoinVertible (EURCV) stablecoin grow to a market capitalization between $140 million and $180 million. As the second-largest euro-pegged stablecoin, EURCV recently recorded weekly inflows of $11.6 million and a market cap increase of approximately $5.6 million. The token is fully compliant with the European Union’s Markets in Crypto-Assets (MiCA) regulation, which serves as a primary selling point for institutional adoption. Deployed on both Ethereum and Solana, the asset is designed to facilitate cross-border payments and the settlement of tokenized assets. By integrating with DeFi protocols like Morpho, EURCV allows holders to generate yield on their euro-denominated digital holdings. This growth reflects a broader strategic effort by European institutions to establish euro-native digital finance rails rather than relying exclusively on dollar-pegged stablecoins. While the asset offers regulatory security, it remains tied to the institutional risks and capital requirements of its parent banking giant.