Sygnum expands in Europe with Societe Generale-FORGE’s EURO Stablecoin

By Gloria Methri

Sygnum, a global digital asset banking group which recently announced its entry in Europe, is further enhancing its B2B platform offering via a collaboration with Societe Generale-FORGE. The EUR CoinVertible (EURCV), a MiCA-regulated stablecoin, will be the first SG-FORGE product made available to Sygnum’s 20+ partner banks in Q1 2025.

Adoption of this stablecoin is a key part of Sygnum’s B2B internationalisation strategy as the group builds on its network of partner banks in Switzerland to expand further into Europe with the MiCA regulation now in force. By adding more institutional-grade stablecoins like EURCV onto its platform, Sygnum enhances its B2B offering and, at the same time, strengthens its ties with leading investment firms in Europe.

SG-FORGE’s EURCV CoinVertible Stablecoin provides a secure bridge for traditional financial players to invest in the digital asset ecosystem. Launched in 2023 on the Ethereum public blockchain, EURCV is 100% collateralised and MiCA compliant. Due to its e-money token classification, it can be freely transferred between counterparties without preapproval, significantly increasing its accessibility and usability.

Fritz Jost, Sygnum Chief B2B Officer, said, “The MiCA legislation, which is now in force, provides a strong legal framework and guard rails that will drive even broader adoption of cryptocurrencies in Europe. We already see many banks seriously evaluating crypto and establishing the milestones for their roll-out. They need trusted, regulated custodians, as well as best-in-class products like the EURCV stablecoin, to drive the industry towards this exciting inflexion point. Our adoption of Societe Generale-FORGE’s stablecoin not only aims to increase access to their institutional solutions but to enable all our B2B partner’s end-clients to own digital assets with complete trust.”

Jean-Marc Stenger, Societe Generale-FORGE CEO, said, “As our relationship with Sygnum was initiated by the Maker DAO transaction in 2023, the adoption of the EURCV for banks and financial institutions connected to Sygnum’s B2B platform represents a new milestone in the collaboration. This initiative will enhance digital asset institutional adoption in Europe with a fully regulated stablecoin.”