Societe Generale to list controversial stablecoin on Bitstamp
French lender Societe Generale is set to become the first bank to offer a stablecoin on a cryptocurrency exchange. According to a report from the Financial Times (FT), the Paris-headquartered bank will debut its stablecoin EUR CoinVertible on crypto exchange Bitstamp on Wednesday, Dec. 6, 2023. Speaking with the FT, Jean-Marc Stenger, CEO of Societe Generale Forge, said the crypto ecosystem has become “highly concentrated on a few existing stablecoin s,” emphasizing that up to 90% denominated in U.S. dollars. “[…] we definitely think that there is a place for a bank in this field and there is a place for a euro [denominated] stablecoin .” Jean-Marc Stenger Stenger added that the bank wants for its stablecoin to be widely available for trades settlement in digital bonds and funds, which is contrary to what JPMorgan is offering with its JPM Coin. You might also like: Circle partners with SBI Holdings to offer potential stablecoins in Japan ...