The European banking leader Société Générale has expanded its euro-backed stablecoin, EUR CoinVertible (EURCV), to the XRP Ledger (XRPL) as part of a broader multi-chain strategy. The move is designed to increase the stablecoin’s adoption, improve accessibility, and enable a wider range of use cases across the blockchain ecosystem.
SG-Forge, a digital assets subsidiary of Société Générale, announced that the deployment on XRPL takes advantage of the blockchain’s scalability, rapid transaction processing, and low fees. This aligns with the group’s ongoing commitment to delivering secure, compliant, and transparent crypto solutions for institutional clients.
EUR CoinVertible was previously launched on Ethereum and Solana, making the XRPL the third network to support the asset. With integration support from Ripple’s custody solutions, SG-Forge plans to incorporate EURCV into new applications and products on the blockchain, including its use as trading collateral. Cassie Craddock, Ripple’s managing director for the UK and Europe, praised Société Générale-FORGE’s pioneering role in Europe, highlighting Ripple’s contribution as a reliable digital assets infrastructure provider that meets stringent operational and security standards.
Jean-Marc Stenger, CEO of SG-Forge, stated that the launch on XRPL represents a major milestone in the company’s strategy to provide next-generation crypto-assets that emphasize compliance, transparency, and scalability. He emphasized that the team looks forward to continued innovation and expanding the reach of their digital asset solutions.
According to CoinMarketCap, EURCV currently has a circulating supply of 65.75 million. The stablecoin is fully backed by euro-denominated cash deposits and securities and complies with European Union regulations. By extending the stablecoin to XRPL, Société Générale aims to reach a broader audience and drive increased adoption and practical usage of EURCV.
The timing of this expansion coincides with growing attention on the Ripple network. Advisors at Grayscale recently identified XRP as the second-most-discussed digital asset after bitcoin. Meanwhile, the XRPL is further opening itself to the institutional decentralized finance ecosystem through recent network updates, which are expected to benefit tokens such as EUR CoinVertible.
Société Générale’s expansion of EURCV to the XRP Ledger underscores the growing intersection of traditional banking with the digital asset space. The move demonstrates how established financial institutions are leveraging multiple blockchain networks to provide high-performance, regulated digital assets while continuing to innovate in the rapidly evolving crypto and DeFi markets.
