France’s Societe Generale has announced that its digital assets subsidiary, Societe Generale-FORGE, will deploy its euro and US dollar-denominated stablecoins on the Canton blockchain network, aiming to support tokenized collateral management, repo financing, and institutional settlement activity.
Stablecoins for institutional finance
The Paris-based bank plans to use its EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) stablecoins for settlement, financing, and cash management on the Canton Network in permitted jurisdictions. The bank stated that the network’s infrastructure could be used for collateral mobility, margin management, and risk management workflows tied to tokenized assets. SG-FORGE will also participate as a strategic partner and validator on the network.
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The stablecoins are restricted to non-US permitted participants and are not registered under the US Securities Act, according to the announcement. SG-FORGE launched its euro-denominated EURCV stablecoin in 2023 and introduced the US dollar-denominated USDCV stablecoin in 2025. Data from DeFiLlama shows EURCV has a market capitalization of about $97 million, while USDCV has roughly $20 million in circulation.
Expanding tokenized collateral infrastructure
The announcement comes as banks and financial institutions are expanding their use of blockchain-based systems for collateral management, repo financing, and stablecoin settlement. This week, JPMorgan filed to launch a tokenized money market fund on Ethereum through its Kinexys Digital Assets unit. The fund will invest in Treasury bills and overnight repurchase agreements collateralized by Treasuries or cash.
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On Tuesday, The Depository Trust & Clearing Corporation (DTCC) said it will integrate infrastructure from Chainlink into its collateral management platform ahead of a planned 2026 launch to support tokenized collateral movement, valuation, and settlement workflows. DTCC’s subsidiaries processed $4.7 quadrillion in securities transactions in 2025.
Separately, Broadridge Financial Solutions yesterday announced it expanded its infrastructure to support tokenized stocks, funds, and money market instruments across trading and post-trade operations. The company said its distributed ledger repo platform tokenizes more than $365 billion in assets daily.
Tokenized asset market growth
Data from RWA.xyz shows that more than $31.6 billion worth of real-world assets, excluding stablecoins, are currently tokenized on blockchain networks. Tokenized US Treasury products account for the largest share of the market at more than $15.3 billion, followed by commodities at about $5.1 billion.
Societe Generale previously issued a tokenized green bond on the Canton Network in November 2025 through SG-FORGE. Last month, the bank integrated USDCV into the MetaMask wallet through a partnership with Consensys.
Why this matters
This deployment represents a significant step by a major European bank into the practical use of stablecoins for institutional-grade financial operations. By using a permissioned blockchain network like Canton, Societe Generale is positioning itself at the front of tokenized capital markets, potentially offering faster, more transparent, and more efficient collateral and settlement processes. For the broader industry, this move signals growing institutional confidence in blockchain-based financial infrastructure beyond experimental projects.
Conclusion
Societe Generale’s deployment of EURCV and USDCV stablecoins on the Canton Network underscores the accelerating trend of traditional financial institutions adopting blockchain technology for core operations. As tokenized asset markets continue to expand, such initiatives could reshape how collateral management, repo financing, and settlement are conducted in the global financial system.
FAQs
Q1: What are EURCV and USDCV stablecoins?
EURCV and USDCV are stablecoins issued by Societe Generale-FORGE, pegged to the euro and US dollar respectively. They are designed for institutional use in tokenized finance, including settlement, collateral management, and repo financing.
Q2: What is the Canton Network?
The Canton Network is a blockchain platform designed for institutional financial applications, enabling secure and scalable tokenized asset transactions, collateral mobility, and settlement workflows.
Q3: Why is this significant for the financial industry?
This deployment marks a major European bank’s move to integrate stablecoins into core financial operations, signaling growing institutional trust in blockchain technology for collateral management and settlement, potentially leading to broader adoption across the sector.
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