Societe Generale's Blockchain and Crypto Unit has deployed Euro and Dollar Stablecoins to Uniswap with Morpho

BlockBeats News, September 30th, Societe Generale's digital asset subsidiary SG-FORGE has introduced its Euro and Dollar stablecoins into DeFi, allowing users to engage in lending and spot trading. This move has deployed the bank's EURCV and USD CoinVertible (USDCV) on the Ethereum-based Morpho and Uniswap protocols, expanding SG-FORGE's efforts to distribute its stablecoins through centralized exchanges and brokers.

By entering DeFi, SG-FORGE enables customers to trade assets pegged to major currencies around the clock, relying on smart contracts to facilitate the trading mechanism. On the Morpho platform, users can now use cryptocurrencies (such as BTC, ETH) as well as money market tokenized funds regulated by the French financial market regulator (such as USTBL, EUTBL, investing in US Treasury and Eurozone government bonds) as collateral to borrow EURCV and USDCV.

Asset management firm MEV Capital will be responsible for managing these treasuries, setting eligible collateral rules, and handling defaults when necessary. SG-FORGE has stated that they plan to introduce more collateral types in the future. Furthermore, the listing on Uniswap will create a spot market for the bank's issued stablecoins. Liquidity provider Flowdesk will provide liquidity, assisting traders in exchanging between EURCV and USDCV without relying on traditional intermediaries.