What happened: SG-FORGE launched EURCV and USDCV on Ethereum’s Morpho and Uniswap.
Societe Generale’s crypto arm deployed its euro and dollar stablecoins into DeFi, listing them on Morpho for lending and on Uniswap for spot trading. Users can now borrow, lend, and trade EURCV and USDCV against major cryptocurrencies and tokenized T‑Bills in a fully onchain environment. Flowdesk will provide liquidity and MEV Capital will curate the Morpho vaults, with SG‑FORGE planning to expand eligible collateral over time.
Who does this affect: traders, institutions, DeFi users, and liquidity providers looking for regulated onchain stablecoins.
Retail and professional traders gain new onchain euro and dollar pairs and lending options. Institutional clients and asset managers can use regulated stablecoins and tokenized treasury bills for yield, treasury management, and short-term funding. Liquidity providers, market makers, and protocol curators get fresh markets to support, while banks and payment firms watching stablecoin rails see a concrete use case.
Why does this matter: it brings regulated assets into DeFi and could shift liquidity, competition, and institutional adoption.
Putting bank‑issued stablecoins into permissionless protocols narrows the gap between traditional finance and DeFi and may attract more institutional capital onchain. Even with modest market caps today, EURCV and USDCV can boost euro/dollar liquidity, pressure other stablecoin issuers, and affect trading spreads and yields. Over time this could improve capital efficiency, enable 24/7 markets and settlement, and accelerate adoption of tokenized treasuries and new cross‑border payment flows.