French banking giant Societe Generale’s crypto arm, FORGE, is introducing a USD-pegged stablecoin, USDCV, on Ethereum and Solana blockchains. This marks its second stablecoin after EURCV, launched in 2023. CEO Jean-Marc Stenger highlights the stablecoin’s institutional-grade design and growing market adoption. USDCV will facilitate crypto trading, cross-border payments, and on-chain settlements, with BNY Mellon serving as reserve custodian. The stablecoin will debut next month on select exchanges but won’t be available to U.S. users initially. The move underscores the bank’s push to integrate traditional finance with blockchain ecosystems.
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Societe Generale Launches USD Stablecoin on Ethereum & Solana
Societe Generale-FORGE (SG-FORGE) is expanding its stablecoin offerings with the launch of USD CoinVertible (USDCV), a USD-pegged stablecoin available on Ethereum and Solana. Following its euro-backed stablecoin (EURCV) in April 2023, USDCV aims to provide 24/7 fiat conversion for crypto trading, cross-border payments, and collateral management. Both tokens are MiCA-compliant Electronic Money Tokens (EMTs), with BNY Mellon ensuring asset transparency. While available to institutional and retail clients globally, US users are excluded. SG-FORGE CEO Jean-Marc Stenger highlights the stablecoin’s role in meeting market demand for dollar-denominated digital assets.
read moreSociete Generale Launches USD Stablecoin with BNY Mellon
Societe Generale-FORGE (SG-FORGE), the crypto division of French banking giant Societe Generale, has launched USD CoinVertible (USDCV), a U.S. dollar-pegged stablecoin operating on Ethereum and Solana. Fully compliant with the EU’s MiCA regulation, USDCV is backed by high-quality reserves custodied by BNY Mellon. The stablecoin aims to serve institutional, corporate, and retail clients (excluding U.S. persons) for digital asset trading, cross-border payments, and collateral management. Trading is expected to begin in July 2025, with 24/7 fiat conversions. The move highlights the growing convergence between traditional finance and blockchain infrastructure.
read moreChainlink Expands Utility Beyond Web3 with 77+ Use Cases
Chainlink is rapidly expanding its decentralized oracle network beyond Web3, with over 77 documented use cases across industries like capital markets, NFTs, and supply chain. A key development is its integration with SWIFT via the Cross-Chain Interoperability Protocol (CCIP), allowing institutions like BNY Mellon and Citi to transfer tokenized assets across blockchains without backend overhauls. Chainlink’s node network aggregates external data for smart contracts, enabling functions like asset tokenization and automated settlements. The platform also addresses payment challenges by connecting smart contracts to traditional banking systems and introducing payment abstraction to convert fees to LINK automatically. These innovations position Chainlink as critical infrastructure bridging decentralized and traditional finance.
read moreBlackRock Files for $150B Tokenized Fund with SEC
BlackRock has submitted a proposal to the SEC to introduce DLT Shares, a digital share class for its $150 billion Treasury Trust money market fund, facilitated by BNY Mellon. The fund will use blockchain to mirror ownership, potentially paving the way for broader adoption of tokenized cash and digital assets. While the fund itself doesn’t invest in crypto, the initiative reflects BlackRock’s strategic push into tokenization, following CEO Larry Fink’s earlier predictions about the transformative potential of tokenized assets. The minimum investment is set at $3 million for institutions, with no minimum for follow-on purchases. This follows BlackRock’s expansion of its BUIDL fund across multiple blockchains and growing industry interest in real-world asset (RWA) tokenization, as seen with Libre’s $500 million Telegram debt tokenization.
read moreBlackRock Launches Blockchain-Enabled Shares for $150B Fund
BlackRock has filed with the SEC to introduce blockchain-enabled ‘DLT Shares’ for its $150 billion money market fund, managed by BNY Mellon. While the fund itself won’t invest in crypto, BNY Mellon will use blockchain to maintain mirrored ownership records. The minimum investment is $3 million, with assets allocated to short-term US Treasury securities. This follows BlackRock’s successful Bitcoin and Ethereum ETFs and its $2.5B BUIDL tokenized fund, reflecting CEO Larry Fink’s vision of broader asset digitization. The firm continues to lead in merging traditional finance with blockchain technology.
read moreBlackRock Files to List Digital Shares via Blockchain
Asset management giant BlackRock has taken a significant step toward blockchain integration by filing to create digital ledger technology (DLT) shares for its $150 million Treasury Trust Fund (TTTXX). According to an SEC filing, these blockchain-based shares will mirror ownership in the money market fund, which primarily holds US Treasury bills and cash. The digital shares can only be purchased through BlackRock Advisors or BNY Mellon, marking a notable institutional embrace of blockchain for traditional finance while maintaining existing regulatory frameworks.
read moreMajor Banks Cut Ties with US Regulator After Data Breach
Two of the largest US banks, JPMorgan Chase and BNY Mellon, have abruptly stopped sharing data electronically with the Office of the Comptroller of the Currency (OCC) after a severe breach of the regulator’s email system. The OCC confirmed the incident exposed highly sensitive information, including financial conditions of federally regulated institutions and details related to terrorism and espionage investigations. The breach has been classified as a ‘major incident,’ prompting the OCC to collaborate with cybersecurity experts and notify Congress. While the banks declined to comment, the OCC assured that onsite examiners still have secure access to necessary data for supervisory activities.
read moreSTABLE Act to Boost Coinbase and TradFi Firms, Says Nansen
A Nansen report highlights how the STABLE Act would create a regulatory advantage for major US financial and crypto firms by imposing strict licensing and reserve requirements. Coinbase, as a key distributor of USDC, stands to gain significantly, alongside TradFi giants like PayPal, Visa, and BlackRock. Meanwhile, decentralized stablecoins like DAI may be pushed offshore or into regulatory gray areas, while compliant DeFi products and tokenized money market funds could rise in prominence. The Act also bans interest payments on stablecoins unless registered as securities, reshaping the future of the stablecoin market.
read moreFamily Offices Embrace Cryptocurrency Investments Amid Regulatory Uncertainty
Family offices are increasingly considering or actively investing in cryptocurrencies, with 39% showing interest, driven by a desire to stay current with emerging trends and the influence of new leadership. However, concerns about hacking and cybercrime, as well as an unclear regulatory environment, remain as top barriers to widespread adoption, despite recent SEC approval for Bitcoin ETFs.
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