Key takeawaysSG-FORGE is launching EURCV, a MiCA-compliant euro stablecoin, on the XRP Ledger (XRPL) next year.Despite having regulatory backing, EURCV has faced challenges in adoption, with a total issuance of just 38 million compared to Circles 92 million EUR Coin.Many financial institutions are exploring stablecoins, and SG-FORGEs move reflects a broader shift toward blockchain-powered global payments.Socit Gnrales SG-FORGE to Launch EURCV Euro Stablecoin on XRP LedgerSG-FORGE, the digital asset arm of prominent French bank Socit Gnrale, is preparing to launch a euro-pegged stablecoin called EUR CoinVertible (EURCV). EURCV will comply with the EUs MiCA regulations.The company announced its plan to launch this stablecoin on the XRP Ledger (XRPL) next year. This move is part of a larger strategy to make EURCV available on multiple blockchains.Currently, EURCV operates on Ethereum and Solana, and by adding the XRP Ledger to its list, SG-FORGE aims to expand its reach across different platforms.SG-FORGE first launched EUR CoinVertible (EURCV) on Ethereum in 2023. It aimed to compete with popular dollar-pegged stablecoins like Tethers USDT and Circles USDC.In September, the firm expanded to Solana and is now introducing the MiCA-compliant stablecoin to the XRP Ledger (XRPL).Despite having regulatory backing, EURCV has faced challenges in gaining broad adoption. Its total issuance stands at just 38 million, much smaller than the 92 million in EUR Coin issued by Circle.However, SG-FORGE has continued to expand, focusing on the XRP Ledger as part of its multi-chain strategy. It decided to integrate EURCV on the XRP Ledger (XRPL) to help boost its adoption.The XRP Ledger is known for its scalability, speed, and low transaction costs. SG-FORGE believes these features will help expand EURCVs use, especially for cross-border payments and tokenization.The XRP Ledger offers fast settlement times and affordable transactions, which SG-FORGE considers necessary for institutional use cases like payments. The network is already home to over 1,750 unique applications and exchanges.Ripples XRP Ledger Boosts Institutional Use with EURCV IntegrationSince its launch in 2012, the XRPL has processed over 2.8 billion secure transactions and supports more than 5 million active wallets. Following its deployment on XRPL, EURCV will use Ripples custody services for its issuance, ensuring security and reliability.Markus Infanger, Senior VP at Ripple, said integrating trusted, banking-grade stablecoin like EURCV on the XRPL is key for supporting institutional use cases, especially payments.Moreover, payments are still a major focus for Ripple, and adding stablecoins helps enhance this area.SG-FORGEs decision is part of a larger trend where traditional financial institutions are exploring stablecoins to make global payments easier and faster. Therefore, as regulations around stablecoins continue to evolve, more institutions are interested in issuing their stablecoins.For example, Ripple is developing its own stablecoin, RLUSD, backed by the U.S. dollar. This stablecoin is reportedly ready for use and awaits approval from the New York Department of Financial Services.Also, Spanish bank BBVA plans to issue a stablecoin on Ethereum next year via a partnership with Visas tokenization platform.In October, the Central Bank of the UAE approved AED Stablecoin LLC to launch AE Coin. This will be the UAEs first dirham-backed stablecoin. AE Coin aims to offer blockchain-powered payments with transparent reserves.Add Techreport to Your Google News Feed Get the latest updates, trends, and insights delivered straight to your fingertips. Subscribe now! Subscribe now Rida is a dedicated crypto journalist with a passion for the latest developments in the cryptocurrency world. With a keen eye for detail and a commitment to thorough research, she delivers timely and insightful news articles that keep her readers informed about the rapidly evolving digital economy. View all articles by Rida Fatima Our editorial processThe Tech Reporteditorial policyis centered on providing helpful, accurate content that offers real value to our readers. We only work with experienced writers who have specific knowledge in the topics they cover, including latest developments in technology, online privacy, cryptocurrencies, software, and more. Our editorial policy ensures that each topic is researched and curated by our in-house editors. We maintain rigorous journalistic standards, and every article is 100% written byreal authors.