The Crypto General Society arm, SG Forge, would have prepared to launch a stable coin on dollar on Ethereum, which makes it the world’s leading banking group to issue a public stable linked to the US dollar.
SG forge’s stablecoin would be accessible to the public on Ethereum, with additional support in Solana to follow. The launch is expected in the coming weeks, according to a report from the French publication The Big Whale.
This decision would expand the imprint of SG Forge in the digital asset space after the beginnings in 2023 of its stablecoin Euro, EURCV.
The token would initially serve institutional investors, taking advantage of SG Forge’s electronic currency license to operate legally through the European Union, according to the report.
The change would occur in the middle of the acceleration of the adoption of stables. World Liberty Financial, the decentralized financial project supported by the family of US President Donald Trump, launched his own stablecoin labeled in dollars, USD1, which was used to settle the investment of $ 2 billion in MGX in Binance.
Banks, according to the director general of Bitgo de Stablecoin Ben Reynolds, explores the stablecoins in order to avoid being overcome by native competitors of the cryptocurrency. These financial institutions are necessary to unlock the full potential of these tokens, said Jose Fernandez Da Ponte, chief of the crypto of Paypal, at the 2025 consensus in Toronto.
The EURCV, EURCV, the EURCV, the EURCV called in Euros of SG Forge, currently has a market capitalization of approximately $ 46.5 million, far behind competitors, including the EURC of Circle token, whose market capitalization exceeds $ 237 million. The tokens called in euros represent a fraction of the $ 243 billion market for stablescoin.
The stables of the US dollar dominate the ecosystem, with USDC de Circle, commanding a market capitalization of $ 60.6 billion, behind the USDT market leader, Stablecoin Phare de Tether with a market capitalization of $ 151.6 billion.
SG Forge refused to comment.
