Societe Generale-FORGE (SG-FORGE), a subsidiary of the Societe Generale Group, has announced the integration of its MiCA-compliant stablecoin, EUR CoinVertible (EURCV), on Solana’s high-performance blockchain. This strategic move aims to enhance digital payments and decentralized finance (DeFi) applications by offering faster, more efficient, and cost-effective transactions.
Faster and Cheaper Digital Payments
By deploying EURCV on Solana, SG-FORGE will improve the user experience across various decentralized applications and payment solutions. Solana, known for handling tens of thousands of transactions per second, offers the speed and scalability necessary to support global adoption of digital assets. With low transaction costs, the integration of EURCV is expected to facilitate everyday payments and cross-border remittances more efficiently.
Jean-Marc Stenger, CEO of Societe Generale-FORGE, emphasized the significance of this integration. “This planned deployment marks a new milestone in SG-FORGE’s growth. The combination of Solana’s high-speed network and SG-FORGE’s reliable, secure stablecoin will unlock new possibilities for both retail users and institutional players in DeFi,” said Stenger.
Benefits for Users
The deployment of EURCV on Solana brings several advantages for users:
- Ultra-low fees: Transaction costs will be a fraction of a cent, making it ideal for micropayments.
- Lightning-fast transactions: With transaction finality in seconds, EURCV will be well-suited for real-time payments and decentralized exchanges (DEXs).
- Enhanced scalability: Solana’s infrastructure has proven its ability to support mass adoption, maintaining efficiency without sacrificing speed.
The integration will not only enhance payment solutions but also expand EURCV’s use cases within the DeFi ecosystem. Users will be able to leverage the stablecoin for liquidity provision and other decentralized finance activities, offering new opportunities for both institutional and retail investors.
New Possibilities for Developers and DeFi Growth
The Solana integration also opens the door for developers within the ecosystem to create new DeFi applications built around EURCV. With its reputation as a stable, investment-grade asset, EURCV offers developers a secure and compliant foundation to build upon, expanding the utility of the stablecoin within DeFi.
Nick Ducoff, Head of Institutional Growth at Solana Foundation, welcomed SG-FORGE’s arrival to the Solana ecosystem. “We are thrilled to welcome Societe Generale-FORGE and its EURCV stablecoin to the Solana ecosystem. Stablecoins are a key component of the DeFi landscape, and the introduction of EURCV, a MiCA-compliant stablecoin, on Solana will bring a powerful new option for users looking for speed, efficiency, and stability,” Ducoff said.
About Societe Generale-FORGE
SG-FORGE is a regulated subsidiary of the Societe Generale Group, providing investment services under MiFID II and authorized as an electronic money institution. It offers a secure platform for digital asset trading, ensuring bank-grade security and regulatory compliance. Backed by Societe Generale’s reputation, SG-FORGE plays a key role in bridging the gap between traditional finance and digital assets.
The integration of EUR CoinVertible on Solana sets the stage for further innovation in the digital asset space, signaling SG-FORGE’s commitment to advancing the adoption of tokenized assets in both traditional and decentralized financial systems.
Photo by Chris Karidis on Unsplash
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