The stablecoin’s reserves will be securely held with Bank of New York Mellon, reinforcing investor confidence through institutional-grade asset backing. USDCV is specifically designed to facilitate the bridge between traditional finance and blockchain-based infrastructure, serving as a regulated vehicle for settlement, trading, and liquidity management.
Notably, SG Forge is no newcomer to the stablecoin space: its earlier euro-pegged token, EURCV, was structured to comply with the European Union’s MiCA crypto-asset regulatory framework—a precedent that informs the bank’s rigorous compliance standards for the USDCV launch.
SG Forge CEO Jean-Marc Stenger emphasized that, following the success of the euro-backed stablecoin, launching a dollar-pegged token is a logical next step—especially given rising global demand for stablecoins in both institutional and retail markets.
According to the bank, the new stablecoin is intended to support a wide range of financial activities, including crypto trading, cross-border payments, on-chain settlements, foreign exchange operations, as well as collateral and liquidity management. However, Societe Generale has confirmed that neither USDCV nor its other stablecoins will be available to users in U.S. jurisdictions.
Market observers note that major financial institutions are increasingly experimenting with stablecoins as tools for reducing friction and costs in international payments. Recently, Uber CEO Dara Khosrowshahi cited stablecoins as a potential mechanism to lower the cost of cross-border money transfers.