Societe Generale Partners with Consensys to Expand USD CoinVertible via MetaMask

Key Facts

1Societe Generale announced a collaboration between its FORGE division and Consensys to make the USD CoinVertible token available on MetaMask.

2The stablecoin involved is a dollar-denominated token called USD CoinVertible.

Societe Generale has partnered with Consensys to integrate its USD CoinVertible stablecoin into the MetaMask wallet, bridging traditional banking with DeFi. Amidst this expansion, a French minister is now urging European banks to increase the issuance of euro-denominated stablecoins and tokenized deposits to remain competitive. This push comes as the total supply of dollar-pegged stablecoins has officially surpassed $300 billion, highlighting a significant market imbalance. Meanwhile, Singapore Gulf Bank (SGB) has enabled access to the Solana network, offering zero-fee conversions for institutional clients. Despite these proactive steps in Europe and Asia, S&P Global notes that U.S. lenders remain hesitant due to deposit risks and regulatory uncertainty. The evolving landscape underscores the urgency for European institutions to establish a stronger foothold in the digital asset ecosystem.

6 months ago

Version History

Version 46 months ago

What changed: Updated to include the French government's push for euro-denominated stablecoins as the dollar-pegged stablecoin supply exceeds $300 billion.

Version 36 months ago

What changed: The story was updated to include Singapore Gulf Bank's (SGB) expansion into the Solana network and the introduction of a zero-fee structure for conversions.

Version 26 months ago

What changed: The story was updated to include Singapore Gulf Bank's (SGB) new 24/7 stablecoin minting and redemption capabilities for institutional clients.

Version 16 months ago

What changed: The story was updated to include an S&P Global report highlighting U.S. banks' caution toward stablecoins despite Societe Generale's expansion.