SG-FORGE
SG-FORGE is the digital asset business of Societe Generale. The company helps financial institutions issue and manage financial products on public blockchains. A public blockchain is a shared transaction register that users can access without joining a closed network run by one financial institution.
SG-FORGE develops digital bonds, structured products and the EUR CoinVertible and USD CoinVertible stablecoins. Stablecoins are tokens designed to track a reference currency, such as the euro or US dollar. The company provides issuance and technical services so institutional clients can connect blockchain-based assets with existing financial operations.
Digital assets at Societe Generale
Societe Generale-FORGE issues digital assets for clients in the capital markets. SG-FORGE issues CoinVertible stablecoins, a product called Smart Cash, digital bonds for clients and structured products of the Societe Generale group, which it registers on the Ethereum and Tezos public blockchains. France's market regulator lists SG-FORGE as a crypto-asset service provider under MiCA, licensed for custody, order execution and transfers.
EUR CoinVertible and USD CoinVertible
SG-FORGE issues both CoinVertible tokens as regulated e-money tokens (EMTs) under its ACPR e-money institution license. The reserves are 100 percent cash, held in segregated accounts with daily disclosure, and holders can redeem one to one through SG-FORGE or its partners. EURCV has met the MiCA stablecoin rules since they took effect on 1 July 2024; USDCV launched on 25 June 2025.
Both tokens run on Ethereum. EURCV is also on Solana and the XRP Ledger, and SG-FORGE plans to bring CoinVertible to the Canton Network. In Germany, Boerse Stuttgart Digital integrated EUR CoinVertible for crypto trading, and the exchange Bitvavo lists both tokens. Euro stablecoins under MiCA compares EURCV with other euro tokens.
Bonds and settlement on chain
The bonds product from SG-FORGE covers the issuance of digital bonds by clients, and it took part when the European Investment Bank issued its first digital bond on a public blockchain. Together with Societe Generale and flatexDEGIRO, SG-FORGE joined Seturion, the European settlement platform from Boerse Stuttgart Group for tokenized securities, which settles trades against central bank money or stablecoins.
Upcoming stablecoin and digital asset events
Payments & Digital Money
Investment & Digital Assets
Risk & Compliance
What is SG-FORGE?
SG-FORGE, in full Societe Generale-FORGE, is the subsidiary of the French bank Societe Generale that issues the stablecoins EURCV and USDCV and registers bonds and structured products on public blockchains.
Is EURCV regulated under MiCA?
Yes, EURCV is an e-money token under MiCA. SG-FORGE issues it as an electronic money institution licensed by the French ACPR, and the token can be redeemed one to one in euros.
On which blockchains does EUR CoinVertible run?
EURCV runs on Ethereum, Solana and the XRP Ledger. SG-FORGE has announced plans for the Canton Network.
What is the difference between EURCV and USDCV?
EURCV is denominated in euros and USDCV in US dollars. Both are e-money tokens from SG-FORGE with full cash reserves and one-to-one redemption.
Stablecoins and digital money
Settlement and markets
SG-FORGE and Finance Loop
Finance Loop covers euro stablecoins such as EUR CoinVertible in its Payments & Digital Money track and is a partner of the Digital Euro Association. Finance Loop events in Frankfurt put euro stablecoins and their settlement on the program.
Finance Loop is a professional network supporting the institutional use of emerging technologies in finance, such as AI, digital payments, cloud and blockchain solutions. Finance Loop helps its members build skills and personal networks in these fields: Investment & Digital Assets, Payments & Digital Money, Digital Infrastructure & Sovereignty, and Risk & Compliance.