Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
View articlesEURCV (Societe Generale-FORGE)
EUR CoinVertible (EURCV) is a euro-backed stablecoin issued by Société Générale - FORGE (France), launched in April 2023. Regulation: electronic money institution authorized by France’s ACPR; EURCV is an e-money token under MiCA; investment firm supervised by the ACPR and AMF. It is on ESMA’s list of e-money tokens under MiCA.
- Ticker
- EURCV
- Issuer
- Société Générale - FORGE (France)
- Pegged to
- Euro
- Type
- Fiat-backed
- Launched
- April 2023
- E-money token under MiCA
- Yes
- Latest reserve report
- September 29, 2026
- Supply
- 169,127,196 EURCV
- Supply as of
- September 29, 2026
- Transparency page
- sgforge.com
- Checked on
Segregated collateral of cash and euro-denominated liquid securities, with at least 30% in cash. On September 29, 2026 the issuer showed 100% cash at Societe Generale. Reserve reporting: daily collateral disclosure by the issuer. The latest report covers September 29, 2026. Supply: 169,127,196 EURCV as of September 29, 2026, according to the issuer.
EEA-resident holders can redeem at par directly with the issuer; subscriptions are open only to onboarded institutional investors. The white paper states no redemption fee or minimum. The issuer lists 4 networks where the token is issued natively: Ethereum, Solana, XRP Ledger and Stellar.
- Token name
- EUR CoinVertible
- Brand
- Societe Generale-FORGE
- Regulation
- Electronic money institution authorized by France's ACPR; EURCV is an e-money token under MiCA
Investment firm supervised by the ACPR and AMF - Reserves
- Segregated collateral of cash and euro-denominated liquid securities, with at least 30% in cash. On September 29, 2026 the issuer showed 100% cash at Societe Generale.
- Reserve reporting
- Daily collateral disclosure by the issuer
- Latest report
- sgforge.com
- Supply, millions of tokens
- 169.1
- Redemption
- EEA-resident holders can redeem at par directly with the issuer; subscriptions are open only to onboarded institutional investors. The white paper states no redemption fee or minimum.
- Networks (native issuance)
- Ethereum, Solana, XRP Ledger, Stellar
- Number of networks
- 4
- Website
- sgforge.com
- Sources
Page URL SG-FORGE CoinVertible product page (circulation, FAQ) https://www.sgforge.com/product/coinvertible/ EURCV MiCA white paper v2.2 (iXBRL, Oct 2025) https://www.sgforge.com/wp-content/uploads/2025/10/EURCV-White-Paper_iXBRL_202510.html Societe Generale press release on EMI approval and EMT restructuring (July 2024) https://wholesale.banking.societegenerale.com/en/news-insights/all-news-insights/news-details/news/societe-generale-forge-elevates-its-stablecoin-to-accelerate-its-distribution-and-free-use/ SG-FORGE press release USDCV/BNY (June 2025) https://www.sgforge.com/usd-stablecoin-bny-custodian/ ESMA interim MiCA register: e-money token issuers https://www.esma.europa.eu/sites/default/files/2024-12/EMTWP.csv
