«Societe Generale’s Daughter Unveils Stablecoins on Morpho and Uniswap Platforms» Translation: Societe Generale’s Daughter Unveils Stablecoins on Morpho and Uniswap Platforms

The bank’s division, Societe Generale — SG-FORGE, has launched its stablecoins, EUR CoinVertible (EURCV) and USD CoinVertible (USDCV), on the Morpho platform and Uniswap.

Within the Morpho protocol, the company has established lending markets where users can borrow and lend EURCV and USDCV against collateral in Bitcoin, Ethereum, and tokenized money market funds. MEV Capital will oversee risk management and the collateral asset list.

A new spot market for stablecoins has been introduced on the decentralized exchange Uniswap, facilitating direct trading of these assets. Liquidity for the trading pairs will be provided by the market maker Flowdesk.

Christopher Waller, a member of the Federal Reserve, has stated that there is no reason to fear new technologies such as fiat-pegged coins. He views them as another form of private money that fosters choice and competition in the market.

Waller highlighted that stablecoins can lower costs and enhance payment efficiency, particularly for cross-border transactions. However, he emphasized the necessity of «reasonable» regulation to protect users and ensure financial stability.

According to Waller, the private sector should take the lead in innovation, while the government’s role should be to create clear regulations and support the industry.

It is worth noting that in June, SG-FORGE introduced the MiCA-compliant stablecoin USDCV.