SocGen’s Crypto Unit Partners With Bitpanda to List Stablecoin Product

Journalist

Tanzeel Akhtar

Journalist

Tanzeel Akhtar

About Author

Tanzeel Akhtar has been covering the cryptocurrency and blockchain sector since 2015. She has written for the Wall Street Journal, Bloomberg, CoinDesk and Bitcoin Magazine.

Author Profile

Share

Copied

Last updated:

September 25, 2024 04:06 EDT

Why Trust Cryptonews

With over a decade of crypto coverage, Cryptonews delivers authoritative insights you can rely on. Our veteran team of journalists and analysts combines in-depth market knowledge with hands-on testing of blockchain technologies. We maintain strict editorial standards, ensuring factual accuracy and impartial reporting on both established cryptocurrencies and emerging projects. Our longstanding presence in the industry and commitment to quality journalism make Cryptonews a trusted source in the dynamic world of digital assets. Read more about Cryptonews

French banking giant Societe Generale-FORGE’s crypto subsidiary SG-FORGE has partnered with Bitpanda, to increase access to its EUR CoinVertible (EURCV) stablecoin.

In a joint announcement, the firms said the aim is to increase the adoption of stablecoins across Europe by listing EURCV on Bitpanda’s broker platform, making it available to more investors.

The stablecoin is fully backed by Euros issued on the Ethereum public blockchain and complies with the EU’s Markets in Crypto-Assets (MiCA) regulations.

Move to Increase Digital Asset Adoption in Europe

SG-FORGE said that its partnership with Bitpanda reflects a shared commitment to advance the use of digital assets, particularly stablecoins in Europe.

In December, the French bank listed its stablecoin, EURCV CoinVertible, on the Luxembourg-based Bitstamp crypto exchange.

“We are committed to offering European users a stable, secure, and accessible digital asset for trading, settlement, and store of value,” said Jean-Marc Stenger, CEO of SG-FORGE in a statement.

With the use of Bitpanda’s infrastructure, EURCV will be used in daily transactions, cross-border payments, and remittances across Europe.

Stablecoins give the advantage of price stability allowing users to participate in the digital economy without the volatility typically associated with cryptocurrencies.