In a landmark move for regulated crypto adoption in Europe, German stock exchange operator Deutsche Börse Group (DB1) and Societe Generale’s digital finance arm, SG-FORGE, announced a partnership on Tuesday. The two will come together to will integrate SG-FORGE’s euro-backed and dollar-backed MiCA-compliant stablecoins into Deutsche Börse’s settlement infrastructure.
Contours of the deal
Under the partnership, SG-FORGE’s EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) will be added to Clearstream. This is the post-trade settlement and custody arm of Deutsche Börse. The plan includes onboarding the tokens for custody and potentially for settling trades or managing collateral in future operations.
SG-FORGE’s EURCV has already been deployed on networks like Stellar, while its USDCV launched this year on Ethereum and Solana with reserves held by BNY Mellon, all under full MiCA regulation.
Growing stablecoin adoption in Europe
By bringing the stablecoins into Deutsche Börse’s core systems, the move signals a clear shift toward using on-chain ir tokenized euro/dollar to mainstream financial workflows. The integration could streamline post-trade settlement and reduce reliance on legacy payment systems. More importantly the typical advantages of blockchain-based settlements of cutting costs and speeding up transaction times will be applicable.
The partnership builds on recent stablecoin momentum across Europe. Major crypto players like Circle have separately teamed up with Deutsche Börse to integrate their EURC and USDC tokens into the same infrastructure. On the banking front, SG-FORGE has expanded its stablecoins to retail via Bitpanda’s DeFi wallet, making EURCV and USDCV accessible to millions of European users.