SocGen brings stablecoin from regulated European bank to MetaMask

Societe Generale's digital asset division, SG-FORGE, has partnered with Consensys to integrate its dollar-backed stablecoin USD CoinVertible (USDCV) directly into the MetaMask wallet.

April 16, 2026
stablecoins

The wallet has 100 million users, of whom at least 30 million are monthly active. It marks the first time a regulated stablecoin issued by a subsidiary of a major European bank has been made available in a self-custodial Web3 environment.

What is USDCV?

SG-FORGE launched USDCV in 2025 on Ethereum and Solana. The token is fully backed by cash reserves, redeemable 1:1 in dollars, issued under a French electronic money licence and supervised by French financial regulators.

SocGen-FORGE's euro stablecoin EURCV was the first to be issued by a subsidiary of a systemically important bank, and is now the second largest in the euro segment with 105 million euros in circulation, behind Circle's EURC.

What can users do?

MetaMask users can now use USDCV for fiat on- and off-ramping, trading crypto assets, and interacting with DeFi protocols. The integration also supports payment of blockchain transaction fees via MetaMask's Gas Station feature. Transak serves as the exclusive fiat-to-stablecoin provider for the integration.

MiCA as competitive advantage — but the gap is vast

Under the EU's new framework, around 10 entities have so far received authorisation as stablecoin issuers, making integrations with major wallets like MetaMask increasingly important in the contest for market share.

Market leaders Tether and Circle control market capitalisations of 185 billion and 79 billion dollars respectively — far above USDCV's 27 million dollars. Other entrants, including PayPal with PYUSD at around 4 billion dollars and Fidelity Investments, which launched a stablecoin earlier this year, illustrate how many traditional financial firms are now expanding their presence in the segment.

Jean-Marc Stenger, chief executive of SG-FORGE, described the integration as a step toward a more interoperable financial system — one that combines the advantages of blockchain technology with the security and regulatory framework of a European bank-issued asset.

USDCV is not available to US residents. SG-FORGE positions the token primarily for European and international clients seeking a MiCA-regulated bank-issued stablecoin for trading, payments, and on-chain settlement.

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