Insiders: Societe Generale will launch the world's first bank issued US dollar stablecoin on Ethereum

According to Cryptobriefing, informed sources have stated that SG Forge, a cryptocurrency subsidiary of French banking giant Societe Generale, is about to launch the world's first bank issued US dollar stablecoin. The stablecoin will be first launched on the Ethereum network and plans to expand to other public chains such as Solana. This move will make Faxing the first multinational banking group to issue US dollar stablecoins on a public chain. This stablecoin is primarily aimed at institutional investors and aims to meet the EU's demand for regulated tokenization of US dollar liquidity. SG Forge holds an EU electronic currency license, and its Euro stablecoin EURCV, launched in April 2023, currently has a circulation of 40 million euros.