Gate News bot news, the trading division of crypto payment company BCB Group, BCB Markets, announced in a press release on Tuesday that it has signed an agreement with Societe Generale-FORGE, to provide the euro stablecoin EURCoinVertible (EURCV) developed by the bank’s digital asset subsidiary.
EURCV was launched in April 2023 and is one of the first stablecoins compliant with the EU Crypto Assets Market (MiCA) framework, which came into effect this year.
EURCV is backed by cash reserves and pegged to the euro, designed for institutional use, bringing stability and regulatory clarity to the European stablecoin space.
Jerome Prigent, Managing Director of BCB Europe, stated that the euro stablecoin could reduce cross-border remittance costs by up to 80%.
Source: CoinDesk
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