Societe Generale’s Euro Stablecoin Goes Live on Stellar – MiCA Race Heats Up

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Societe Generale Expands <a href="https://minority-mindset.com/eur-usd/">Euro</a> Stablecoin to Stellar as MiCA Race Heats Up

Key Takeaways

  • SG-FORGE launched its euro stablecoin EURCV on the Stellar network on March 10, 2026
  • EURCV now operates across four blockchains: Ethereum, Solana, Stellar, and XRP Ledger
  • Market cap sits at approximately $452 million; fully backed by fiat deposits and liquid assets

The new system launched on March 10, 2026, and now supports Stellar, in addition to Ethereum, Solana, and the XRP Ledger. SG-FORGE first announced plans for this expansion in February 2025, aiming to make the token available on more platforms beyond Ethereum.

As a crypto investor, I’ve been watching EURCV, and it’s interesting to see it become the first euro stablecoin issued by a bank that actually follows the EU’s new crypto rules. It’s really taken off – its market value is around $452 million now, which is a big jump from the €65.8 million it was worth back in early 2026. There are just under 52 million tokens in circulation, but daily trading is still relatively low, around $376,000.

Why Stellar

We specifically chose the Stellar network because it can handle a large number of transactions quickly and at very low cost, making it ideal for international payments and large-scale financial operations. Its built-in exchange also allows for trading directly on the network, without needing extra systems. This was particularly appealing to SG-FORGE, as our clients are primarily institutions, and Stellar already has a strong network of asset managers and financial companies using it.

Denelle Dixon, CEO of the Stellar Development Foundation, explained that this launch is a significant improvement for how digital payments work, especially for businesses sending money internationally. Guillaume Chatain, Chief Revenue Officer at SG-FORGE, described it as a connection point between traditional financial systems and the world of digital assets.

MiCA’s Winners – and a Dissenting View

The European stablecoin market is quickly changing, with many smaller players struggling to adapt to new rules. Since the MiCA regulations came into effect, companies that don’t comply are being forced to change their business or leave the market altogether. Experts believe EURCV and Circle’s EURC are now the leading euro-backed stablecoins and are likely to benefit from this shift. As regulations get stricter, analysts predict that stablecoins which *do* comply with MiCA will control around 90% of the European market.

Some people aren’t convinced the new framework is well-designed. The CEO of Tether has warned that the rule requiring stablecoin issuers to hold at least 60% of their reserves as cash in commercial banks could actually create risks for the financial system, especially if those banks face money shortages. While regulators haven’t paid much attention to this concern yet, it could become more important as stablecoins become more widely used.

Currently, SG-FORGE’s expansion to multiple blockchains makes EURCV the most widely available regulated euro stablecoin. The key to justifying this investment in infrastructure will be whether institutions start using it widely, especially for trading tokenized assets.

This article is for informational purposes only and shouldn’t be considered financial, investment, or trading advice. Coindoo.com doesn’t support or suggest any particular investment or cryptocurrency. Before making any investment choices, be sure to do your own research and talk to a qualified financial advisor.

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2026-03-11 10:24