Bullish Europe has listed Société Générale-Forge’s USDCV stablecoin, marking the first availability of USD CoinVertible (USDCV) on a regulated platform in the EU. The launch follows a previous partnership between Société Générale and Bank of New York Mellon, which acts as the custodian for the stablecoin. USDCV targets both retail and institutional markets for applications such as remittances and payments. Both USDCV and the recently introduced EURCV qualify as e-money tokens under the EU’s Markets in Crypto-Assets Regulation (MiCA). Société Générale-Forge has received an electronic money institution license from the French regulator, Autorité de Contrôle Prudentiel et de Résolution. Meanwhile, European initiatives in the stablecoin space are gaining momentum, contrasting with the historically US-dominated sector. However, EU officials are cautious about potential risks from stablecoins, particularly those sourced outside the EU. They emphasize the need for a stringent regulatory framework to mitigate threats from US stablecoins to the euro and overall financial stability.

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