SG-FORGE Launches Euro, Dollar Stablecoins on Uniswap and Morpho
Societe Generale's digital asset arm, SG-FORGE, has introduced its euro (EURCV) and dollar (USDCV) stablecoins into the decentralized finance (DeFi) ecosystem. These stablecoins are now accessible for borrowing, lending, and spot trading on Ethereum-based protocols Morpho and Uniswap.
- The inclusion in DeFi allows for round-the-clock transactions with major currency-tied assets through smart contracts.
- Morpho enables users to lend and borrow EURCV and USDCV against cryptocurrencies like Bitcoin and Ethereum, and tokenized money market funds such as USTBL and EUTBL.
- French Financial Markets Authority regulates these tokenized funds, investing in US and Eurozone T-Bills.
- Asset manager MEV Capital will manage the vaults, overseeing collateral rules and defaults.
- Uniswap listings create a spot market for the stablecoins, with Flowdesk providing liquidity for trading without traditional intermediaries.
- Market cap comparison: EURCV at $66 million, USDCV at $32.2 million, while competitors like Circle Internet's EURC and Tether's USDT have larger market caps of $260 million and $174.8 billion, respectively.