SG-FORGE brings EURCV and USDCV to Uniswap and Morpho for trading, lending, and borrowing.
- SG-FORGE moves stablecoins to Ethereum-based DeFi protocols.
- Clients can now borrow, lend, and trade around the clock.
- MEV Capital and Flowdesk will manage collateral and liquidity.
SG-FORGE Expands Into DeFi
SG-FORGE, the crypto arm of Societe Generale, has released its euro and dollar stablecoins on major DeFi platforms. These coins, called EURCV and USDCV, are now available on Uniswap and Morpho, which run on the Ethereum blockchain.
With this move, SG-FORGE allows users to borrow, lend, and trade these stablecoins without using a traditional bank. All transactions will work using smart contracts, which are automatic programs that run on the blockchain. This means people can use the coins at any time, day or night.
How Morpho and Uniswap Will Be Used
On Morpho, users can borrow or lend EURCV and USDCV. They can do this by putting up collateral in other digital assets, such as bitcoin (BTC), ether (ETH), and even tokenized government bonds. These digital bonds, called USTBL and EUTBL, are approved by French regulators and invest in U.S. and Eurozone Treasury Bills.
Asset manager MEV Capital will be in charge of setting borrowing rules. They will also help manage risks if someone cannot repay their loan. Over time, SG-FORGE plans to add more types of acceptable collateral to Morpho.
Trading Access via Uniswap
On Uniswap, users can now trade EURCV and USDCV through spot markets. This means they can swap them for other tokens without needing a broker or bank. A company called Flowdesk will provide liquidity, making sure there is always enough supply for buying and selling.
These coins are still small compared to their rivals. EURCV has a market value of about $66 million, while USDCV sits at $32.2 million. In contrast, Circle’s EURC is worth $260 million, and Tether’s USDT leads the market with $174.8 billion.
Source: coindesk.com
