Correct! That’s a concise and factual headline.
Societe Generale-FORGE (SG-FORGE) and Bitpanda are expanding their partnership to integrate regulated stablecoins into Decentralized Finance (DeFi). This initiative allows Bitpanda's retail clients to use SG-FORGE's EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) in on-chain lending and borrowing protocols.
- The stablecoins will be integrated into Bitpanda's DeFi Wallet, offering access to protocols like Morpho and Uniswap.
- This move is part of a broader strategy following recent listings of SG-FORGE's USDCV stablecoin on other platforms.
- The partnership aims to increase trust in DeFi by introducing stablecoins compliant with the EU's Markets in Crypto-Assets (MiCA) framework.
- Both companies aim to create a regulated financial ecosystem, enhancing user benefits and interoperability.
- The collaboration will also support future integrations with Bitpanda's Vision (VSN) token and its planned Layer-2 network, the Vision Chain.
This trend of traditional financial institutions entering the digital asset market is mirrored by initiatives like Morgan Stanley's E*Trade platform launching crypto trading services. The expansion into DeFi builds on an agreement from September 2024, first listing EURCV on Bitpanda’s platform, encouraging more retail involvement in the on-chain economy.