According to Cryptobriefing, PANews reports on May 20th that informed sources indicate that SG Forge, the crypto subsidiary of French banking giant Société Générale, is about to launch the world's first US dollar stablecoin issued by a bank. The stablecoin will be initially launched on the Ethereum network, with plans to expand to other public chains such as Solana. This move will make Société Générale the first multinational banking group to issue a US dollar stablecoin on a public chain. The stablecoin is primarily targeted at institutional investors, aiming to meet the European Union's demand for regulated US dollar liquidity tokenization. SG Forge holds a European Union electronic money license, and its euro stablecoin EURCV, launched in April 2023, currently has a circulation of 40 million euros.
