{"id":2763,"date":"2025-06-11T18:31:55","date_gmt":"2025-06-11T13:31:55","guid":{"rendered":"https:\/\/youdigital.pk\/en\/?p=2763"},"modified":"2025-06-11T14:33:53","modified_gmt":"2025-06-11T09:33:53","slug":"societe-generale-launches-dollar-pegged-stablecoin","status":"publish","type":"post","link":"https:\/\/youdigital.pk\/en\/2025\/06\/11\/societe-generale-launches-dollar-pegged-stablecoin","title":{"rendered":"Societe Generale Launches Dollar-Pegged Stablecoin"},"content":{"rendered":"<p data-start=\"118\" data-end=\"489\"><strong>ISLAMABAD: French banking giant Societe Generale has become the first major bank to introduce a dollar-backed stablecoin.<\/strong><\/p>\n<p data-start=\"118\" data-end=\"489\">The new digital currency, called &#8220;USD CoinVertible,&#8221; will be tradable on both the Ethereum and Solana blockchains starting this July.<\/p>\n<p data-start=\"118\" data-end=\"489\">This marks a significant milestone as banks enter the rapidly growing market of cryptocurrency stablecoins.<\/p>\n<h4 data-start=\"491\" data-end=\"535\">A Regulated Digital Currency Offering<\/h4>\n<p data-start=\"536\" data-end=\"939\">Stablecoins are cryptocurrencies pegged to traditional currencies like the US dollar, enabling fast, blockchain-based transfers of large sums.<\/p>\n<p data-start=\"536\" data-end=\"939\">Societe Generale\u2019s stablecoin will be regulated under the European Union\u2019s MiCA framework, ensuring compliance and investor protection.<\/p>\n<p data-start=\"536\" data-end=\"939\">The bank\u2019s digital arm, SG-FORGE, already launched a euro-based stablecoin in 2023, though with limited adoption so far.<\/p>\n<h4 data-start=\"941\" data-end=\"980\">Growing Demand and Market Impact<\/h4>\n<p data-start=\"981\" data-end=\"1436\">Jean-Marc Stenger, CEO of SG-FORGE, highlighted a strong market demand for a secure, regulated dollar stablecoin from corporates, financial institutions, and crypto exchanges.<\/p>\n<p data-start=\"981\" data-end=\"1436\">The token will support crypto trading, cross-border payments, forex transactions, and collateral management.<\/p>\n<p data-start=\"981\" data-end=\"1436\">BNY Mellon will act as custodian for the stablecoin\u2019s dollar reserves, which will initially be held in cash accounts before being invested in yield-generating assets.<\/p>\n<p data-start=\"1438\" data-end=\"1781\">With the stablecoin sector led by players like Tether and Circle, Societe Generale\u2019s move signals growing institutional interest in bridging traditional finance and crypto markets.<\/p>\n<p data-start=\"1438\" data-end=\"1781\">Regulators remain cautious about stablecoins\u2019 potential impact on financial stability, but industry experts view regulated offerings as a positive step forward.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ISLAMABAD: French banking giant Societe Generale has become the first major bank to introduce a dollar-backed stablecoin. The new digital currency, called &#8220;USD CoinVertible,&#8221; will be tradable on both the Ethereum and Solana blockchains starting this July. This marks a significant milestone as banks enter the rapidly growing market of cryptocurrency stablecoins. A Regulated Digital &hellip;<\/p>\n","protected":false},"author":6,"featured_media":2764,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[306,28,1388],"class_list":["post-2763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain","tag-crypto","tag-stablecoin"],"_links":{"self":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts\/2763","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/comments?post=2763"}],"version-history":[{"count":1,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts\/2763\/revisions"}],"predecessor-version":[{"id":2765,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/posts\/2763\/revisions\/2765"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/media\/2764"}],"wp:attachment":[{"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/media?parent=2763"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/categories?post=2763"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youdigital.pk\/en\/wp-json\/wp\/v2\/tags?post=2763"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}