Question 1

What is EUR CoinVertible v1 (EURCVV1)?

Accepted Answer

EUR CoinVertible (EURCV) is a digital asset and stablecoin pegged to the value of the Euro. It was launched by Societe Generale-FORGE, a subsidiary of Societe Generale, one of France’s largest banking and financial services firms. As a stablecoin, EURCV is designed to maintain a stable value relative to the Euro, unlike other cryptocurrencies which are not pegged to another asset. The value of EURCV is backed by fiat Euro held in a cash account with Societe Generale. The stablecoin is intended for use as a settlement and store-of-value asset for on-chain transactions, in cash management and pooling activities, and as a solution for on-chain liquidity funding, refinancing, and intra-day liquidity needs such as margin calls​​.

Question 2

What is EUR CoinVertible v1 (EURCVV1) used for?

Accepted Answer

EUR CoinVertible is used in various financial contexts to bridge traditional finance with the digital assets world. Its applications include:

Settlement asset for on-chain transactions.
Cash management and cash pooling activities.
On-chain liquidity funding and refinancing solutions.
Intra-day liquidity needs like margin calls.
As an Ethereum-based token conforming to the ERC20 standard, EURCV can be transferred between holders and is theoretically usable in smart contract-powered decentralized applications (dapps), although its functionality is currently limited due to the whitelisting requirement​​.

Question 3

Who created EUR CoinVertible v1 (EURCVV1)?

Accepted Answer

EUR CoinVertible was created by Societe Generale-FORGE (SG-FORGE), a subsidiary of Societe Generale. Societe Generale is a major banking and financial services company founded in 1864. SG-FORGE is dedicated to crypto assets, offering services like issuing and managing on-chain assets and financial products to investors, corporates, and other financial institutions. SG-FORGE introduced EURCV in April 2023 as a part of its effort to integrate traditional finance with the digital asset ecosystem​​​​.