A major shift is underway in the world of digital assets—and this time, it’s being led by a legacy institution. French banking giant Societe Generale has officially launched a U.S. dollar-backed stablecoin on Ethereum and Solana, becoming the first major bank to enter the public stablecoin arena.

A New Kind of Digital Dollar

Called USD CoinVertible (USDCV), the token is being issued by SG-Forge, the bank’s blockchain-focused subsidiary. Unlike many stablecoins that operate in regulatory grey zones, USDCV is designed to comply fully with the European Union’s MiCA (Markets in Crypto-Assets) framework. The reserves backing the coin will be custodied by BNY Mellon and, over time, invested in yield-bearing assets.

The public trading launch is scheduled for July, with the token set to support use cases like trading, on-chain settlement, collateral management, and cross-border payments.

What Makes This Different?

While banks have flirted with blockchain before, most have done so through closed, permissioned systems. Societe Generale is taking a different path—deploying on public blockchains where the real liquidity flows. This signals a major attitude shift: traditional finance isn’t just exploring crypto anymore—it’s participating in it.

USD CoinVertible enters a crowded field already dominated by private issuers like Tether (USDT) and Circle (USDC), but its backing by a regulated European bank gives it a level of institutional credibility few can match.

Why It Matters

Stablecoins have become the backbone of crypto markets, facilitating everything from DeFi transactions to remittances. But regulatory uncertainty and lack of transparency have long been sticking points. A compliant, bank-backed alternative could appeal to institutions and governments alike—and change the game for how stablecoins are used in the global economy.

For Cointiply users, this development is a reminder that crypto is no longer a fringe innovation—it’s becoming financial infrastructure. As big players like Societe Generale step in, expect more bridges between traditional and decentralized finance.