SG-FORGE, the digital assets arm of Société Générale, has deployed its euro stablecoin, EUR CoinVertible, on the XRP Ledger, expanding beyond its existing integrations on Ethereum and Solana as competition heats up in the race for regulated stablecoins in Europe.
EUR CoinVertible is issued under French digital asset rules and is backed 1:1 by cash deposits or high-quality securities. It has a circulating supply of approximately €65.8 million, per CoinGecko, making it one of the largest euro stablecoins on the market behind Circle’s EURC.
SG-FORGE said it chose the XRP Ledger for its low transaction costs and rapid settlement, while Ripple’s custody infrastructure will be used to support the deployment. The stablecoin could eventually be explored as collateral for trading or integrated into Ripple’s payment-related products.
For XRPL, the listing is another victory in terms of institutional credibility, as the network positions itself as a compliant venue for tokenized finance. The launch comes just as XRPL validators vote on new upgrades such as Permissioned DEX, a feature intended to enable controlled trading environments where only approved participants can interact, a requirement for many regulated businesses.
The stablecoin surge also comes as blockchains compete to host tokenized deposits, bonds and settlement assets. For XRP itself, the news is more structural than price-determining, but it adds to the narrative that XRPL is trying to be more than a payment chain.
