Forge, a regulated DASP subsidiary of Societe Generale, has added Stellar to the list of supported networks for the EUR CoinVertible (EURCV) stablecoin.

Initially, the token was launched on Ethereum.

The MiCA-compliant “stablecoin” is designed for TradFi.

Stellar’s capabilities, including its built-in DEX and support for asset tokenization, will enable EURCV’s integration into various financial applications and services.

Holders of the stablecoin will have “direct access to reserves.” The collateralized euros will be held in a trust fund managed by a third party.

Reminder: Forge was included in the list of MiCA-approved issuers, alongside nine other organizations. Tether, the issuer of USDT with a market cap of $141.7 billion, was absent from the list.

In November, Tether discontinued support for its euro-pegged stablecoin EURT.

Within the EU, the company has shifted focus toward third-party projects such as MiCA-licensed Quantoz Payments and StablR, as well as the expansion of its RWA platform, Hadron.

USDC issuer Circle received approval to issue stablecoins in the EEA back in July.

Previously, Kaiko reported that by November 2024, MiCA-compliant stablecoins accounted for a record 91% market share.