Societe Generale’s SG-FORGE to Issue Dollar Stablecoin on Ethereum & Solana

France’s Societe Generale is set to launch “USD CoinVertible”, a dollar-pegged stablecoin deployed on Ethereum and Solana blockchains, becoming the first major bank to issue a publicly tradable dollar stablecoin.

Developed by SG-FORGE, SocGen’s digital asset arm, the stablecoin will enable institutional and retail users to transact in a blockchain-native dollar alternative. Public trading begins in July.

The stablecoin market, led by Tether’s $155 billion USDT, continues expanding. SG-FORGE’s prior euro stablecoin saw limited uptake, with €41.8 million minted—highlighting challenges in competing with established crypto-native issuers.