Societe Generale’s digital assets arm SG-FORGE 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 Europe’s regulated stablecoin race.
EUR CoinVertible is issued under French digital asset rules and is backed 1 to 1 by cash deposits or high-quality securities. It has a circulating supply of roughly 65.8 million euros, per CoinGecko, making it one of the larger euro stablecoins in the market behind Circle’s EURC.
SG-FORGE said it chose the XRP Ledger for its low transaction costs and fast settlement, while Ripple’s custody infrastructure will be used to support the rollout. The stablecoin could eventually be explored as collateral for trading or integrated into Ripple’s payment-related products.
For XRPL, the listing is another institutional credibility win as the network positions itself as a compliant venue for tokenized finance. The launch lands just as XRPL validators have been voting on new upgrades such as Permissioned DEX, a feature meant to allow controlled trading environments where only approved participants can interact, a requirement for many regulated firms.
The stablecoin push also comes as blockchains compete to host tokenized deposits, bonds and settlement assets. For XRP itself, the news is more structural than price-driving, but it adds to the narrative that XRPL is trying to be more than a payments chain.