{"id":27735,"date":"2025-05-20T17:31:53","date_gmt":"2025-05-20T17:31:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27735"},"modified":"2025-05-20T17:31:53","modified_gmt":"2025-05-20T17:31:53","slug":"socgens-crypto-arm-to-launch-dollar-denominated-stablecoin-on-ethereum-reports-say","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27735","title":{"rendered":"SocGen\u2019s Crypto Arm to Launch Dollar Denominated Stablecoin on Ethereum, Reports Say"},"content":{"rendered":"<div>\n<p>Soci\u00e9t\u00e9 G\u00e9n\u00e9rale\u2019s crypto arm, SG Forge, is reportedly preparing to launch a dollar-backed stablecoin on Ethereum, making it the first global banking group to issue a public stablecoin tied to the U.S. dollar.<\/p>\n<p>SG Forge\u2019s dollar stablecoin would be publicly accessible on Ethereum, with additional support for Solana to follow. The launch is expected in the coming weeks, according to a <a href=\"https:\/\/en.thebigwhale.io\/article-en\/exclusive-sg-forge-to-launch-a-dollar-stablecoin-a-world-first-for-a-banking-group\">report<\/a> by French publication The Big Whale.<\/p>\n<p>The move would expand SG Forge\u2019s footprint in the digital asset space following the 2023 debut of its <a href=\"https:\/\/www.coindesk.com\/business\/2023\/12\/06\/societe-generale-backed-euro-stablecoin-eurcv-starts-trading-on-bitstamp\">euro stablecoin, EURCV<\/a>.<\/p>\n<p>The token would initially serve institutional investors, leveraging SG Forge\u2019s e-money license to operate legally across the European Union, according to the report.<\/p>\n<p>The shift would come amid accelerating stablecoin adoption. World Liberty Financial, the decentralized finance project backed by the family of U.S. President Donald Trump, has launched its own dollar-denominated stablecoin, USD1, which has been used to settle <a href=\"https:\/\/www.coindesk.com\/business\/2025\/05\/01\/world-liberty-s-stablecoin-will-be-used-to-close-mgx-s-usd2b-binance-investment-eric-trump\">MGX\u2019s $2 billion investment in Binance.<\/a><\/p>\n<p>Banks, according to BitGo\u2019s managing director of stablecoin Ben Reynolds, are <a href=\"https:\/\/www.coindesk.com\/consensus-toronto-2025-coverage\/2025\/05\/14\/banks-exploring-stablecoin-amid-fears-of-losing-market-share-bitgo-executive-says\">exploring stablecoins<\/a> in a bid to avoid being outpaced by cryptocurrency-native competitors. These financial institutions are needed to <a href=\"https:\/\/www.coindesk.com\/consensus-toronto-2025-coverage\/2025\/05\/15\/paypal-crypto-head-says-banks-are-needed-to-unlock-full-stablecoin-potential\">unlock the full potential of these tokens<\/a>, PayPal\u2019s crypto head Jose Fernandez da Ponte said at Consensus 2025 in Toronto.<\/p>\n<p>SG Forge\u2019s euro-denominated stablecoin, EURCV, currently has a market capitalization of around $46.5 million, far behind competitors including Circle\u2019s EURC token, whose market cap exceeds $237 million. Euro-denominated tokens represent a fraction of the $243 billion stablecoin market.<\/p>\n<p>U.S. dollar stablecoins dominate the ecosystem, with Circle\u2019s USDC commanding a $60.6 billion market cap, behind the market leader USDT, Tether\u2019s flagship stablecoin with a $151.6 billion market cap.<\/p>\n<p>SG Forge declined to comment.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Soci\u00e9t\u00e9 G\u00e9n\u00e9rale\u2019s crypto arm, SG Forge, is reportedly preparing to launch a dollar-backed stablecoin on Ethereum, making it the first global banking group to issue a public stablecoin tied to the U.S. dollar. SG Forge\u2019s dollar stablecoin would be publicly accessible on Ethereum, with additional support for Solana to follow. The launch is expected in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27735","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27735","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27735"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27735\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27735"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27735"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27735"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}