Bullish Europe partners with Société Générale to be the first to list the USDC stablecoin.

Bullish, the operating entity and trading platform located in the European market, announced on 9/23 that it has become the first platform to list the French investment bank (Société Générale-Forge) USD stablecoin (EUR CoinVertible, USDCV). USDCV has received regulatory verification from both the German Federal Financial Supervisory Authority BaFin and the EU MiCA, representing that European users and institutions can trade this compliant USD stablecoin with confidence.

Société Générale is the first to launch a euro stablecoin, laying the foundation for future developments.

As early as 2023, the blockchain division of Société Générale under Crédit Agricole, (Société Générale-Forge, SG-Forge), launched a euro stablecoin, primarily targeting institutional users.

The launch of EURCV not only allows France to gain an advantage in the European stablecoin market but also lays the technical and compliance foundation for the future launch of the USD version USDCV.

The USDCV issuance plan is revealed, in collaboration with American banks for custody.

In early June 2024, SG-Forge announced a collaboration with the Bank of New York Mellon in the United States, with the latter serving as the custodian bank to launch the issuance plan for USDCV.

The official statement indicates that the use of USDCV covers cross-border payments, foreign exchange trading, remittances, and value storage, targeting both retail and institutional markets, demonstrating the ambition to expand international financial services.

Bullish Europe is the first to list USDCV

Then on 9/23, Bullish Europe announced that it became the first platform to list USDCV. Bullish Europe is also regulated by Germany's BaFin and the EU's MiCA, ensuring that the listed coins comply with regulations and can circulate freely in the European market.

USDCV and EURCV are both recognized by the European Union as "E-Money Tokens" (, compliant with MiCA regulations and can be transferred freely. SG-Forge has also obtained an e-money institution license from the French Prudential Supervision and Resolution Authority ) ACPR (, which provides official protection for its stablecoin issuance and trading.

The European stablecoin market continues to expand, with new coins being launched one after another.

The European stablecoin war is in full swing, with the euro stablecoin EURAU, jointly supported by Germany's Deutsche Bank Asset Management company DWS, Dutch market maker Flow Traders, and Galaxy Digital, having received approval from BaFin in July and issued on Ethereum )Ethereum(.

The stablecoin issuer Paxos launched USDG in the EU and has also obtained compliance approval in Finland and Singapore. Earlier this year, 10 stablecoin issuers have passed MiCA approval, indicating intense market competition.

European officials are alert to external risks and are strengthening financial defenses.

Despite the smooth progress of Compliance, European officials remain highly vigilant about the potential impact of foreign stablecoins. Italian Finance Minister Giancarlo Giorgetti warned in April that the threat of US stablecoin policies to the local economy is even greater than that of US tariffs.

European Central Bank advisor Jürgen Schaaf also stated at the end of July that US stablecoins could undermine the international status of the euro. Following this, ECB President Christine Lagarde called on legislators in early August to address the gaps outside the MiCA regulations to avoid imbalances in the financial system. Last week, senior officials from the Bank of Italy further stated that if stablecoins issued by multiple countries lack strict restrictions, they could pose systemic risks to the EU financial system.

) The French industrial bank issues a USD-pegged stablecoin! A long-established European bank enters the new battlefield of blockchain (

This article Bullish Europe partners with Société Générale to be the first to list the USDC stablecoin, which first appeared on Chain News ABMedia.