Key Takeaways
Societe Generale’s digital asset unit has integrated its MiCA-compliant dollar stablecoin directly into the MetaMask wallet, giving millions of crypto users their first taste of a regulated digital dollar issued by a major European bank.
"This is a deliberate step to broaden access to compliant digital assets," Jean-Marc Stenger, CEO of Societe Generale-FORGE, said in a statement. The partnership with Consensys, MetaMask's developer, aims to merge the trust of traditional banking with the open infrastructure of public blockchains.
The USD CoinVertible (USDCV) is a fully-reserved stablecoin backed 1:1 by high-quality dollar assets, with reserves custodied by BNY Mellon. The integration, announced April 15, makes the token available within MetaMask's mobile and web applications on the Ethereum and Solana blockchains, with fiat on-ramps powered by Transak.
The move positions a regulated, institution-backed asset on public blockchains, addressing long-standing concerns around counterparty risk while providing a compliant bridge between traditional finance and DeFi. For users, it provides access to a stablecoin issued under established European regulatory frameworks without sacrificing the flexibility of on-chain activity.
Societe Generale is not acting in a vacuum. The integration is a key move in a broader European banking race to launch regulated stablecoins ahead of the full implementation of the Markets in Crypto-Assets (MiCA) regulation. This framework provides a clear legal structure for stablecoin issuance and is forcing institutions to finalize their digital asset strategies.
Other major European banks are close behind. Commerzbank recently partnered with Circle, the issuer of the USDC stablecoin, while BNP Paribas is working with Tether. A separate consortium of 12 banks known as Qivalis—including ING, UniCredit, and BBVA—is developing a euro-denominated stablecoin for launch in the second half of 2026.
These partnerships are a direct response to MiCA, which requires crypto-asset issuers to have a registered presence in the EU and adhere to strict operational and reserve standards by 2027. For many banks, partnering with existing crypto firms is the fastest way to meet these requirements. The convergence creates a new competitive landscape where bank-issued stablecoins will compete directly with crypto-native ones like USDT and USDC for market share in trading, settlement, and corporate treasury management.
This article is for informational purposes only and does not constitute investment advice.
