Société Générale's encryption division will deploy Euro and US Dollar stablecoins to Uniswap and Morpho.

On September 30, Société Générale's digital asset subsidiary SG-FORGE has introduced its euro and US dollar stablecoins into DeFi, allowing users to engage in lending and spot trading. This move deploys the bank's EURCV and USD CoinVertible (USDCV) onto the Ethereum-based Morpho and Uniswap protocols, expanding SG-FORGE's efforts to distribute its stablecoins through centralized exchanges and brokers. By entering DeFi, SG-FORGE enables clients to trade assets pegged to major currencies around the clock while relying on smart contracts to handle transaction mechanisms. On the Morpho platform, users can now borrow EURCV and USDCV using cryptocurrencies (such as BTC, ETH) as well as money market token funds regulated by the French Financial Markets Authority (such as USTBL, EUTBL, which invest in US Treasuries and Eurozone government bonds) as collateral. Asset management firm MEV Capital will be responsible for managing these vaults, setting qualifying collateral rules, and handling defaults when necessary. SG-FORGE indicated that more types of collateral will be introduced in the future. Additionally, the listing on Uniswap will create a spot market for the bank-issued stablecoins. Market maker Flowdesk will provide liquidity to assist traders in swapping between EURCV and USDCV without relying on traditional intermediaries.