strong buy
French Bank Launches First Bank-Issued Dollar Stablecoin on Ethereum
The French banking giant Société Générale, via its crypto division SG Forge, is preparing to introduce the world's inaugural bank-issued dollar stablecoin on the Ethereum blockchain. This achievement catapults Société Générale to the forefront as the first large-scale multinational bank to issue such a digital asset on a public blockchain. The stablecoin is chiefly designed for institutional clients and is aimed at fulfilling the EU's increasing request for regulated tokenized dollar liquidity. SG Forge has already issued a euro stablecoin, EURCV, in April 2023, which circulates with a value of 40 million euros. The bank also has plans to broaden the stablecoin's reach to other blockchains, including Solana.
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AI Analysis
This move by Société Générale to issue a bank-backed dollar stablecoin on Ethereum marks a significant milestone in the evolution of digital currencies within traditional banking institutions. As one ...
AI Recommendation
Investors should monitor Société Générale's progress in deploying and expanding its dollar stablecoin, as it could signify increased institutional acceptance of regulated digital assets. While the pro...
Disclaimer
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