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Societe Generale-Forge, the digital asset subsidiary of Societe Generale, issues EUR CoinVertible and USD CoinVertible as MiCA e-money tokens.
Societe Generale-Forge (EURCV and USDCV) scores 2.5 out of 5 (50 out of 100) in the Buckingham Intelligence Stablecoin Issuers Index 2026 and ranks 8 of 11. It is strongest for european banks and institutions wanting a bank-group issuer with daily reserve disclosure, and its best criterion is reserves at 4 out of 5. Not published or not stated on the pages read: redemption, published fees, reserves and independent assurance.
Scores from the Stablecoin Issuers Index 2026.
No award in the Stablecoin Issuers Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For payment and e-money firms | 48 | 9 of 11 |
| For exchanges and brokers | 51 | 9 of 11 |
| For corporate treasuries | 51 | 9 of 11 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
European banks and institutions wanting a bank-group issuer with daily reserve disclosure.
What Societe Generale-Forge (EURCV and USDCV) publishes on its own pages, read on 26 October 2026.
Societe Generale-Forge, the digital asset subsidiary of Societe Generale, issues EUR CoinVertible and USD CoinVertible as MiCA e-money tokens. It discloses collateral composition daily and holds collateral in segregated, bankruptcy-remote accounts. It publishes no reserve attestation and no fees, and redemption is open to onboarded institutional investors.
| Fact | What the provider publishes |
|---|---|
| Reserves | "Fully backed by 100% segregated collateral assets", "with collateral composition and valuation publicly disclosed on a daily basis"; "funds are bankruptcy remote in the event of an insolvency of Societe Generale-Forge." |
| Independent assurance | Smart contracts audited by Hacken (Ethereum October 2025, Solana December 2024, Stellar September 2025). No independent reserve attestation on the pages read. |
| Regulatory standing | "A MiCA-compliant e-money institution licensed by the ACPR"; white paper: also a French investment firm supervised by the ACPR and regulated by the AMF, and licensed as a crypto-asset service provider with the ACPR and AMF. |
| Redemption | "Institutional investors can subscribe to USD CoinVertible or EUR CoinVertible after successful onboarding"; tokens "can be redeemed 1:1 against fiat". No redemption time or minimum published. |
| Published fees | Not published on the pages read. |
| Currencies and networks | White paper: EURCV registered on "the Ethereum, Solana, XRPL, Stellar and Canton network". Two currencies: euro and US dollar. |
| Date read | 26 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 26 October 2026 from: sgforge.com/product/coinvertible, sgforge.com/wp-content/uploads/2026/10/….
Each score with the evidence behind it.
Each criterion is scored 0 to 5 against the best published offer in the Stablecoin Issuers Index. 0 means not offered or not published. How it is scored
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Circle (USDC and EURC) | 4.3 | 1 of 11 | Payment firms and exchanges needing the widest licensing and network coverage |
| Paxos (USDG, USDP and PYUSD) | 3.6 | 2 of 11 | Payment firms wanting free redemption and a Big Four attestation |
| Tether (USDT) | 3.5 | 3 of 11 | Exchanges and large traders needing the most widely held dollar stablecoin |
| Agora (AUSD) | 3.3 | 4 of 11 | Fintechs and platforms wanting fee-free minting and a share of reserve income |
| Gemini (GUSD) | 3.1 | 5 of 11 | Firms already on Gemini wanting fee-free conversion and named reserve banks |
| StraitsX (XSGD, XUSD and XIDR) | 2.8 | 6 of 11 | Payment firms in Southeast Asia needing a Singapore dollar stablecoin |
| Quantoz (EURQ and USDQ) | 2.7 | 7 of 11 | European firms wanting free direct redemption without an existing account |
| AllUnity (EURAU, CHFAU, SEKAU and USDAU) | 2.4 | 9 of 11 | European corporates wanting a no-code mint account and several currencies |
| Ripple (RLUSD) | 2.4 | 10 of 11 | Banks and brokers wanting a New York trust issuer |
| Monerium (EURe and GBPe) | 1.9 | 11 of 11 | Fintechs and wallets needing euro tokens linked to a named IBAN |
Side by side on every criterion, fact and award.
Head-to-head comparisons cover pairs within the top five of each ranking. Societe Generale-Forge (EURCV and USDCV) is compared with its alternatives in the table above.
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