Société Générale Deploys Euro Stablecoin on XRP Ledger
SG-FORGE, the digital asset arm of Société Générale, has officially deployed its euro-backed stablecoin, EUR CoinVertible, on the XRP Ledger (XRPL) as of February 18, 2026.
Key Takeaways
- SG-FORGE launched EURCV on the XRP Ledger on February 18, 2026.
- The stablecoin is backed 1:1 by bank deposits or high-quality securities.
- EURCV is structured to comply fully with the EU’s MiCA regulation.
- Integration with Ripple Payments and Liquidity Hub is planned.
- Circulating supply stands at approximately 70.51 million tokens.
The move marks the token’s third major blockchain expansion, following earlier launches on Ethereum and Solana, and signals a broader push into multi-chain infrastructure.
The deployment leverages Ripple Custody technology, previously known as Metaco, to secure reserves and manage on-chain issuance. With this integration, EURCV is also expected to become embedded within Ripple’s institutional product suite, including Ripple Payments and Liquidity Hub, where it can serve as trading collateral and settlement infrastructure.
Multi-Chain Strategy Gains Momentum
By adding the XRP Ledger to its supported networks, SG-FORGE is reinforcing a multi-chain approach designed to maximize liquidity access and cross-border utility. The XRPL is widely recognized for its payments-focused architecture, offering settlement times of roughly 3 to 5 seconds and throughput capacity of up to 1,500 transactions per second.
Transaction costs on the XRPL are also significantly lower compared to many other Layer-1 networks, making it an attractive environment for stablecoin transfers and real-world asset tokenization.
As of launch, EURCV’s circulating supply stands at approximately 70.51 million tokens. The stablecoin is backed on a 1:1 basis by bank cash deposits or high-quality liquid securities, according to SG-FORGE disclosures.
MiCA-Compliant Euro Stablecoin
EURCV holds a distinct regulatory position in Europe. It is designed to be fully compliant with the EU’s Markets in Crypto-Assets (MiCA) framework, making it the first euro-denominated stablecoin structured specifically around the new regulatory regime.
This positioning could prove critical as European policymakers aim to strengthen euro-based digital assets in response to the overwhelming dominance of U.S. dollar-pegged stablecoins such as USDT and USDC in global markets.
From SWIFT Pilot to On-Chain Expansion
The XRPL launch follows a SWIFT pilot conducted earlier in 2026, where EURCV was tested for the exchange and settlement of tokenized bonds. That initiative highlighted the potential for euro-backed stablecoins to function within institutional-grade financial rails while maintaining blockchain-based programmability.
With the XRPL integration now live, SG-FORGE appears to be advancing beyond experimentation toward broader operational deployment. The expansion reflects a growing institutional trend: combining regulated banking structures with blockchain-native payment infrastructure to create compliant, cross-border digital cash alternatives.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
