Major European Bank Launches Euro Stablecoin on XRPL
A European bank with a reported $1.8 trillion in assets has launched a regulated euro-denominated stablecoin on the XRP Ledger (XRPL). The move is part of a larger, quiet buildout of institutional-grade infrastructure on blockchain rails. Observers noted this underscores growing institutional interest in using stablecoins for cross-border payments and settlement.
- The bank is Société Générale, France's third-largest bank, which launched its EUR CoinVertible (EURCV) stablecoin on the XRP Ledger through its digital asset division, SG-FORGE. - This is a multi-chain strategy for the EURCV stablecoin, which was first launched on Ethereum in April 2023 and subsequently on Solana in June 2025. - The EUR CoinVertible is the first stablecoin compliant with the EU's Markets in Crypto-Assets (MiCA) regulations to be deployed on multiple chains. - This launch is part of a larger trend of institutional adoption on the XRP Ledger in February 2026, which includes Deutsche Bank integrating Ripple's technology for cross-border payments and asset manager Aviva Investors planning to tokenize funds on the XRPL. - The XRP Ledger is being positioned as an institutional-grade infrastructure with features like a permissioned decentralized exchange (DEX) to provide regulated institutions with access to on-chain liquidity while maintaining compliance. - The move comes as European banks are increasingly exploring bank-backed stablecoins to enhance payment efficiency and maintain monetary autonomy in a market dominated by U.S. dollar-pegged stablecoins. - Société Générale's choice of XRPL was influenced by the network's scalability, speed, and low-cost settlement capabilities, which are crucial for institutional-grade financial transactions. - Prior to the XRPL launch, the EURCV stablecoin was tested in a SWIFT pilot for the on-chain settlement of tokenized bonds with other major banks like BNP Paribas and Intesa Sanpaolo.
