SG-FORGE, the digital assets arm of Societe Generale, has deployed its euro stablecoin, EUR CoinVertible, on the XRP Ledger, expanding beyond its existing integrations on Ethereum and Solana as competition heats up in the race for regulated stablecoins in Europe.
EUR CoinVertible is issued under French digital asset regulations and is backed 1:1 by cash deposits or high-quality securities. It has a circulating supply of approximately €65.8 million, according to CoinGecko, making it one of the largest euro stablecoins on the market behind Circle’s EURC.
SG-FORGE said it chose the XRP Ledger for its low transaction costs and fast settlement, while Ripple’s custody infrastructure will be used to support the launch. The stablecoin could eventually be explored as collateral for commerce or integrated into Ripple’s payment-related products.
For XRPL, the listing is another institutional credibility gain as the network positions itself as a compatible venue for tokenized finance. The launch comes just as
The stablecoin push also comes as blockchains compete to host tokenized deposits, bonds, and settlement assets. For XRP itself, the news is more structural than influencing prices, but it adds to the narrative that XRPL is trying to be more than a payments chain.
