Societe Generale Expands Stablecoin to XRP Ledger for Faster Cross-Border Payments

Societe Generale's crypto-focused subsidiary, SG-FORGE, has revealed plans to integrate its EUR CoinVertible (EURCV) stablecoin with the XRP Ledger (XRPL).

The bank highlighted XRPL’s robust capabilities for quick cross-border payments and efficient tokenization, positioning it as a strategic platform for the stablecoin’s growth.

The integration leverages XRPL’s rapid transaction finality, with confirmation times of just 3 to 5 seconds, giving EURCV a significant edge in real-time banking and remittance services. Additionally, XRPL’s ability to process up to 1,500 transactions per second positions it to handle large-scale global payment operations. Ripple’s Custody Solutions, previously known as Metaco, will provide the necessary technical infrastructure for the stablecoin.

Guillaume Chatain, SG-FORGE’s Chief Revenue Officer, expressed that XRP Ledger’s speed and cost-efficiency align seamlessly with the firm’s goal of creating secure, transparent, and scalable digital assets. Markus Infanger, Senior Vice President at RippleX, also noted the importance of integrating EURCV into XRPL, with the aim of enhancing institutional payment use cases.

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This move is part of SG-FORGE’s larger multi-chain strategy, which will see further blockchain integrations in 2025. EURCV, initially launched on Ethereum in 2023, struggled with adoption, reaching a market cap of €38 million, prompting its expansion to Solana in September to tap into that network’s speed and low costs. Chatain emphasized that these blockchain expansions are just the beginning of SG-FORGE’s ongoing efforts to broaden digital solutions across new markets.

Kosta Gushterov

Kоста работи в крипто индустрията от над 4 години. Той се стреми да представя различни гледни точки по дадена тема и харесва сектора заради неговата прозрачност и динамика. В работата си той се фокусира върху балансираното отразяване на събитията и развитието в крипто пространството, като предоставя информация на своите читатели от неутрална гледна точка.