Societe Generale's digital assets unit, SG-FORGE, has launched its euro stablecoin, EUR CoinVertible, on the XRP Ledger (XRPL). This marks the stablecoin's expansion beyond its existing presence on Ethereum and Solana, signaling a deepening institutional embrace of XRPL for compliant digital assets and on-chain settlement.
EUR CoinVertible operates under French digital asset regulations, fully backed by cash or high-quality securities. With a circulating supply of approximately €65.8 million, it ranks among the larger euro stablecoins in the market. SG-FORGE selected the XRP Ledger for its cost efficiency and rapid settlement capabilities. Ripple's custody infrastructure will also support the stablecoin's rollout, potentially enabling its use as collateral for trading or integration into Ripple's payment products.
This move bolsters XRPL's positioning as a compliant platform for tokenized finance, especially with the recent rollout of features like a permissioned Decentralized Exchange (DEX) designed for regulated institutions. The expansion highlights a competitive landscape where blockchains vie to host tokenized deposits, bonds, and settlement assets.