USDCV vaults

USD CoinVertible (USDCV) is a USD-denominated electronic money token issued by SG-FORGE, a regulated subsidiary of Societe Generale — one of the largest banks in Europe. SG-FORGE markets CoinVertible as "the only stablecoin supported by a major European bank," combining blockchain efficiency with institutional-grade compliance.

Mechanism

USDCV maintains a strict 1:1 peg to the US Dollar and is fully backed by 100% segregated collateral assets held at BNY Mellon. The collateral composition and valuation are publicly disclosed on a daily basis, and funds are held in bankruptcy-remote accounts. Smart contracts have been audited by HACKEN. Institutional investors must complete KYC/AML onboarding with SG-FORGE before subscribing; the token is restricted from US persons.

SG-FORGE also issues EUR CoinVertible (EURCV), the EUR-denominated counterpart, which was launched first and serves as the flagship product. USDCV is deployed on Ethereum; EURCV is additionally available on the XRP Ledger and Stellar. Both tokens are fully compliant with EU MiCA regulation since June 2025.

Key properties

• Issued by a regulated European bank subsidiary (SG-FORGE / Societe Generale)
• 100% fiat-backed, collateral held at BNY Mellon with daily public disclosure
• MiCA-compliant electronic money token
• Targeted at institutional counterparties (exchanges, payment processors, financial firms)

Sources

• SG-FORGE official site
• Etherscan — USDCV