Societe Generale’s SG-FORGE Expands DeFi with Euro Dollar Stablecoins on Ethereum

Societe Generale's digital asset unit, SG-FORGE, has expanded its euro and dollar stablecoins, EURCV and USDCV, into the decentralized finance (DeFi) space by deploying them on Ethereum-based protocols Morpho and Uniswap. This integration allows users to borrow, lend, and trade these MiCA-compliant stablecoins against major cryptocurrencies like Bitcoin and Ethereum, as well as tokenized money market funds regulated by the French Financial Markets Authority. MEV Capital will manage the Morpho vaults, overseeing collateral eligibility and risk management, while Flowdesk will provide liquidity for spot trading on Uniswap, ensuring smooth, permissionless transactions. By bridging traditional regulated assets with DeFi, SG-FORGE is enabling 24/7 access to financial services through smart contract-powered infrastructure, enhancing transparency and reducing reliance on intermediaries. Although EURCV and USDCV currently have relatively small market caps compared to leaders like Circle's EURC and Tether's USDT, this move marks a significant shift towards institutional adoption of on-chain finance. Overall, SG-FORGE's strategy represents a pioneering effort by a major bank to integrate regulated stablecoins into DeFi ecosystems within a compliant framework.