TLDR
- Société Générale’s SG-FORGE has deployed EURCV and USDCV stablecoins on Ethereum-based platforms, including Morpho and Uniswap.
- The integration allows users to borrow, lend, and trade SG-FORGE’s stablecoins in a fully on-chain environment.
- SG-FORGE partners with MEV Capital to manage collateral eligibility and risk management on the Morpho protocol.
- Flowdesk will supply liquidity to ensure smooth trading of EURCV and USDCV on Uniswap without relying on traditional intermediaries.
- The move reflects Societe Generale’s push to connect regulated financial assets with blockchain-based decentralized finance.
Société Générale’s digital asset unit, SG-FORGE, has integrated its euro- and dollar-denominated stablecoins into decentralized finance (DeFi) protocols. The firm deployed EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) on Ethereum-based platforms Morpho and Uniswap. This move enables borrowing, lending, and spot trading in a fully on-chain environment. SG-FORGE’s shift to decentralized platforms marks a new chapter in aligning regulated assets with blockchain infrastructure.
EURCV on Morpho for Borrowing and Lending
On the Morpho protocol, users can borrow or lend SG-FORGE’s EURCV and USDCV stablecoins against major cryptocurrencies. These include Bitcoin, Ethereum, and tokenized money market funds like USTBL and EUTBL. USTBL and EUTBL invest in U.S. and Eurozone treasury bills, making them a secure option for DeFi transactions. MEV Capital will manage the Morpho vaults, overseeing collateral eligibility, capital allocation, and risk management.
SG-FORGE stated that the list of eligible assets for borrowing and lending will grow in the future. The firm’s partnership with MEV Capital ensures a reliable framework for asset management in the Morpho vaults. SG-FORGE’s move into decentralized finance (DeFi) signals its intention to leverage blockchain to provide accessible financial tools.
Société Générale Expands Stablecoin Access on Uniswap
On Uniswap, SG-FORGE has introduced EURCV and USDCV for spot trading. Flowdesk, a market-making firm, will provide liquidity to ensure smooth trading of these stablecoins. The partnership eliminates the need for traditional intermediaries, thereby enhancing transaction efficiency. SG-FORGE aims to provide 24/7 access to financial services through these decentralized platforms.
The integration of SG-FORGE’s stablecoins into Uniswap helps connect traditional finance with blockchain-native technology. By deploying its stablecoins on Ethereum’s decentralized protocols, the firm removes constraints tied to conventional banking systems. This shift opens new avenues for institutional players looking to integrate real-world assets into the DeFi space.
Société Générale’s stablecoins have been growing in market capitalization. EURCV has reached a market cap of $66 million, while USDCV stands at $32 million. These numbers reflect the growing interest in institutional-grade stablecoins within decentralized finance ecosystems. As the stablecoin market expands, SG-FORGE’s moves position it as a leader in bridging the gap between regulated financial assets and blockchain.
🟥 Grosse info : @SocieteGenerale se lance dans la DeFi
D'ici quelques jours, il sera possible de déposer du stablecoin euro (EURCV) dans un vault @MorphoLabs pour générer du rendement
C’est la première fois que la filiale crypto de la banque française (SG-Forge) rend possible… pic.twitter.com/Qm1eu9ewKY
— Grégory Raymond 🐳 (@gregory_raymond) September 29, 2025
In comparison, Circle’s EURC holds a $260 million market cap, and Tether’s USDT leads the market with $174.8 billion in circulation. However, SG-FORGE’s stablecoins continue to grow, indicating an increasing institutional push into DeFi.
