EUR CoinVertiblePrice

(EURCV)

EUR CoinVertible, also known by its ticker EURCV, is a digital stablecoin pegged to the value of the euro. It was launched in April 2023 by Societe Generale-FORGE, which is the specialized digital asset subsidiary of the French banking group Societe Generale. The project is designed to bridge the gap between traditional capital markets and the burgeoning digital asset ecosystem by providing a regulated and secure medium for transactions. Technologically, the project initially launched on the Ethereum blockchain as an ERC-20 token but has since expanded its reach to other public networks including Solana, XRPL, and Stellar. It is built using the CAST framework, an open-source standard for interoperability and securitization that ensures the tokens are compatible with institutional banking standards while maintaining the technical advantages of blockchain technology. One of the defining characteristics of EURCV is its focus on regulatory compliance. It is one of the first stablecoins issued by a major traditional financial institution to align with the European Union Markets in Crypto-Assets regulation, known as MiCA. The issuer has obtained an Electronic Money Institution license from the French Prudential Supervision and Resolution Authority. This legal status allows the token to function as a regulated e-money instrument that can be used across various financial services within the European Union. The token is fully collateralized, meaning every unit in circulation is backed on a one-to-one basis by euro-denominated assets. These reserves consist of fiat currency held in bank accounts and high-quality securities. Crucially, these collateral assets are held in segregated accounts that are legally and operationally separate from the general assets of the issuing company. This structure is intended to protect holders by providing direct recourse to the underlying reserves and ensuring the assets remain remote from bankruptcy risks. The primary use cases for EURCV are centered on institutional needs such as on-chain settlements, corporate treasury management, and cash pooling. It is also intended to serve as a reliable settlement asset for security tokens and other financial products registered on distributed ledgers. While it was initially restricted to whitelisted institutional clients to ensure strict adherence to anti-money laundering and know-your-customer protocols, the project has evolved to support broader transferability and integration into decentralized finance protocols and global payment systems. Through these integrations, it aims to provide a stable store of value and an efficient tool for real-time cross-border remittances and automated smart contract payments. Learn more

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