Stablecoins & Markets
Kim Min-jun
Coverage focuses on reserves, redemption and the flow of money through digital-asset markets.
View articlesUSDCV (Societe Generale-FORGE)
USD CoinVertible (USDCV) is a US dollar-backed stablecoin issued by Société Générale - FORGE (France), launched on June 25, 2025. Regulation: electronic money institution authorized by France’s ACPR; USDCV 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
- USDCV
- Issuer
- Société Générale - FORGE (France)
- Pegged to
- US dollar
- Type
- Fiat-backed
- Launched
- June 25, 2025
- E-money token under MiCA
- Yes
- Latest reserve report
- September 29, 2026
- Supply
- 12,546,441 USDCV
- Supply as of
- September 29, 2026
- Transparency page
- sgforge.com
- Checked on
Segregated collateral in US dollar cash and liquid instruments. On September 29, 2026 the issuer showed $11.0 million at BNY and $1.55 million at Societe Generale. Reserve reporting: daily collateral disclosure by the issuer. The latest report covers September 29, 2026. Supply: 12,546,441 USDCV as of September 29, 2026, according to the issuer.
EEA-resident holders can redeem at par with the issuer after checks, paid by the last business day of the following month. The white paper states no fee or minimum. The issuer lists 2 networks where the token is issued natively: Ethereum and Solana.
- Token name
- USD CoinVertible
- Brand
- Societe Generale-FORGE
- Regulation
- Electronic money institution authorized by France's ACPR; USDCV is an e-money token under MiCA
Investment firm supervised by the ACPR and AMF - Reserves
- Segregated collateral in US dollar cash and liquid instruments. On September 29, 2026 the issuer showed $11.0 million at BNY and $1.55 million at Societe Generale.
- Reserve reporting
- Daily collateral disclosure by the issuer
- Latest report
- sgforge.com
- Supply, millions of tokens
- 12.5
- Redemption
- EEA-resident holders can redeem at par with the issuer after checks, paid by the last business day of the following month. The white paper states no fee or minimum.
- Networks (native issuance)
- Ethereum, Solana
- Number of networks
- 2
- Website
- sgforge.com
- Sources
Page URL SG-FORGE CoinVertible product page (circulation, FAQ) https://www.sgforge.com/product/coinvertible/ USDCV MiCA white paper v2.0 (iXBRL, Aug 2025) https://www.sgforge.com/wp-content/uploads/2025/09/USDCV-White-Paper_iXBRL_202508.html 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
