EUR CoinVertible Stablecoin Launches on XRP Ledger, Expanding Reach

TLDR

• Société Générale Forge has launched EUR CoinVertible on the XRP Ledger, expanding its stablecoin to a new Layer-1 network.
• The deployment follows previous integrations on Ethereum and Solana, strengthening the firm’s multi-chain strategy.
• Ripple supports the launch by providing institutional-grade custody and infrastructure services to ensure security.
• The integration on XRP Ledger enhances scalability, reduces transaction costs, and offers a secure decentralized architecture.
• SG-FORGE aims to increase the adoption of its euro-backed stablecoin for trading, payments, and collateral use cases.

Société Générale Forge has launched its euro-backed stablecoin, EUR CoinVertible, on the XRP Ledger. This move expands the stablecoin’s presence, following previous deployments on Ethereum and Solana. The integration into the XRP Ledger strengthens the firm’s multi-chain strategy and enhances the adoption of compliant digital assets across various blockchain networks.

EUR CoinVertible Expands to XRP Ledger

Société Générale Forge has successfully deployed EUR CoinVertible on the XRP Ledger. This launch adds another Layer-1 network to the stablecoin’s ecosystem, which already includes Ethereum and Solana. According to SG-FORGE, the decision to use the XRP Ledger stems from its high-performance capabilities, which can provide faster transactions, lower fees, and a secure decentralized architecture.

Ripple has supported the launch by providing its institutional-grade custody and infrastructure services. This partnership aims to ensure the stablecoin’s seamless integration while maintaining high security standards. Ripple’s technology enables SG-FORGE to enhance the operational and security standards for the stablecoin’s use cases.

SG-FORGE highlighted several key advantages of integrating EUR CoinVertible into the XRP Ledger. The platform’s scalability and low transaction costs are central to its appeal. XRP Ledger’s decentralized infrastructure also ensures a high level of security for institutional users of the stablecoin.

Jean-Marc Stenger, CEO of SG-FORGE, emphasized the firm’s focus on delivering transparent and secure digital assets. “The launch of EUR CoinVertible on XRP is a milestone in our effort to advance regulated digital assets that are compliant and scalable,” Stenger stated. The integration on XRP reinforces SG-FORGE’s commitment to expanding its offering of euro-backed stablecoins for trading, payments, and collateral use.

Ripple’s Role in Expanding EUR CoinVertible Use Cases

Ripple’s involvement in the launch is crucial, as it provides both infrastructure and custody services for EUR CoinVertible. The partnership with Ripple supports SG-FORGE’s strategy of driving the adoption of the stablecoin across various financial and crypto markets.

Cassie Craddock, Ripple’s Managing Director for UK and Europe, remarked that SG-FORGE is at the forefront of creating structured crypto-asset offerings in Europe. “Ripple’s infrastructure has been integral to supporting the launch and ongoing expansion of regulated stablecoins like EUR CoinVertible,” Craddock added. The move to integrate with XRP’s robust platform is expected to unlock new use cases for the stablecoin, such as trading collateral and further integration into Ripple’s product suite.