Ripple’s UK and Europe Managing Director Cassie Craddock has publicly welcomed the launch of Société Générale-FORGE’s euro-backed stablecoin on the XRP Ledger, calling it a milestone for institutional adoption in Europe.
In a statement following the deployment, Craddock said she was “delighted” that EUR CoinVertible is now live on XRPL, describing the move as a combination of institutional-grade compliance and the speed and cost efficiency associated with the network. She also confirmed that Ripple’s custody technology underpins the integration.
EURCV on XRPL: Multichain strategy and on-chain liquidity data
The issuer, Société Générale-FORGE, announced that EUR CoinVertible is now available on XRPL as part of a multichain strategy that already includes Ethereum and Solana.
According to CEO Jean-Marc Stenger, the expansion reinforces the firm’s commitment to compliant, transparent digital asset infrastructure and opens the door to additional use cases, including trading collateral and potential product integrations.
Earlier this week, XRPL data showed rising use of Ripple USD in automated liquidity routing, with 477 auto-bridging events recorded in a single 24-hour window. The EUROP/RLUSD pair led activity, highlighting demand for euro-denominated stablecoin corridors. Approximately 15,000 XRP were used purely to facilitate exchange-rate liquidity, and 92% of trades on the ledger remained Token/XRP pairs, underscoring XRP’s role as the settlement layer.
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For European institutions operating under MiCA-aligned frameworks, the deployment signals increasing comfort with regulated on-chain euro liquidity. For Ripple, it strengthens positioning in custody and infrastructure rather than token issuance alone.