- Societe Generale has launched its USDCV stablecoin on Solana and Ethereum; trading to start in July.
- SOL price holds steady as institutional adoption gains traction.
- Solana ETF decision and upgrades could boost long-term value.
Solana’s native token, SOL, continues to draw the attention of institutional and retail investors alike, as the blockchain’s real-world adoption gains a powerful boost from one of Europe’s largest banks.
This renewed attention comes amid news that Societe Generale’s digital asset subsidiary, SG-FORGE, will launch a new US dollar-pegged stablecoin, USD CoinVertible (USDCV), on both the Ethereum and Solana blockchains.
Societe Generale will launch a dollar-backed stablecoin called “USD CoinVertible” through its crypto unit SG-FORGE, becoming the first major European bank to do so.
It will be available on Ethereum and Solana, with public trading expected in July. pic.twitter.com/Kws4xmuf1T
— Satoshi Club (@esatoshiclub) June 10, 2025
While the announcement underscores a broader institutional pivot toward blockchain-backed finance, it also injects new momentum into Solana’s market narrative, reinforcing its role as a serious contender to Ethereum’s dominance.
Societe Generale’s stablecoin adds credibility to Solana
The issuance of USDCV marks the first time a major traditional banking institution has deployed a USD-backed stablecoin on public blockchains, signalling a historic moment for digital finance.
Unlike many stablecoins that operate from crypto-native origins, USDCV benefits from the backing of a globally recognised bank and custodial oversight by BNY Mellon, one of the world’s largest asset custodians.
This move not only reinforces Solana’s legitimacy among regulators and institutions but also provides a strong use case for stablecoins within compliant, real-world frameworks.
Although USDCV is not available to US residents, its intended audience spans global institutional and retail clients, a clear indication that Solana is evolving into an infrastructure layer for regulated finance.
SOL price holds firm amid bullish developments
Following the announcement, SOL’s market behaviour has remained relatively stable, trading in a narrow range between $155 and $162, suggesting investors are cautiously optimistic.
Currently priced at around $157.74, SOL has posted a 1.8% gain over the past 24 hours, with a circulating market cap exceeding $83 billion and a trading volume of more than $4.5 billion.
Although short-term price fluctuations are still influenced by broader macroeconomic conditions, Solana’s technical foundation and increasing real-world utility continue to give it a unique position in the digital asset space.
The network’s high throughput and low fees, powered by its Proof-of-History consensus model, remain strong differentiators that attract developers and institutions alike.
Upcoming Solana ETF decision and upgrades fuel long-term confidence
As investors monitor the SEC’s upcoming decision on the staking-enabled Canary Marinade Solana ETF, due July 24, broader confidence in Solana’s institutional adoption is gaining steam.
This ETF, if approved, would be the first in the U.S. to offer staking rewards via Marinade Select, setting a precedent for yield-generating crypto funds and offering another layer of value to SOL holders.
Moreover, Solana’s network upgrades, including the Firedancer validator client and expanded block space capacity, aim to boost scalability and reliability, addressing past concerns about outages.
Partnerships with major firms like Shopify and Visa further highlight Solana’s potential in payments and global commerce, making it a more appealing long-term investment option.
In parallel with financial use cases, Solana is also being used for groundbreaking tokenisation efforts in the public sector, with the Central African Republic preparing to sell tokenised land via its CAR token.
This initiative leverages Solana’s infrastructure to enable global investors to purchase subdivided, development-ready land while laying the groundwork for broader resource tokenisation.
Solana price outlook remains cautiously optimistic
With the Societe Generale USDCV expected to begin trading in early July and the Solana ETFs decision looming, market sentiment around SOL cryptocurrency may shift sharply if these developments progress without delay.
While volatility remains a staple of the crypto markets, the fusion of regulatory compliance, institutional adoption, and public sector innovation positions Solana as a blockchain to watch in the second half of 2025.
In the meantime, eyes are on whether Solana (SOL) can regain the resistance at $175, which depends on whether it can maintain above $150, awaiting the USDCV trading to kick off and the ETFs greenlight.
- Societe Generale’s first digital green bond is a senior preferred unsecured bond on Ethereum.
- The bond was issued as a Security Token and registered on November 30, with an inaugural value of 10 million euros.
- The maturity is three years and net proceeds will go to eligible green projects and activities.
Societe Generale, the third-biggest bank in France, recently issued the first ever digital green bond on a public blockchain, according to details in a news release.
The French financial services giant said the issuance of the senior preferred unsecured bond was on the Ethereum blockchain, and carried an initial transaction of 10 million euros ($10.79 million).
The bond, which was issued as a Security Token and registered on November 30 by Societe Generale subsidiary Forge, has a maturity of three years and grants access to the transparency and traceability of its carbon footprint via a smart contract.
Societe Generale issued its first digital green bond as a Security Token directly registered by Societe Generale-FORGE on the #Ethereum public blockchain.
— Societe Generale Group (@SocieteGenerale) December 4, 2023
Net proceeds to finance green projects
According to the bank, net proceeds from the bond will go into financing or refinancing of eligible “green” projects or activities.
Investors also have a new option of settling securities on-chain, with this possible through the EUR CoinVertible (EURCV), a euro-pegged stablecoin Forge issued in April. It accords investors a complementary solution to traditional cash settlement.
Per Societe Generale, the benefits of the EUR CoinVertible’s on-chain solution is evident as countries continue to experiment with Central Bank Digital Currencies (CBDCs), the bank noted.
As major financial institutions and providers increasingly adopt blockchain technology, Paris-based Societe Generale has become one of the biggest to tap the innovation. It has issued euro bonds, including in partnership with the European Investment Bank (EIB), on the Ethereum blockchain.
The company has also issued security tokens on Tezos.
Investors of the digital green bond now have the option of settling the transaction through on-chain EUR CoinVertible, a digital asset that was issued by SG-FORGE earlier this year.
Leading multinational financial services provider based in Paris Societe Generale SA (EPA: GLE) has announced the launch of its first digital green bond that is issued on blockchain technology. According to the announcement, the security token has been directly registered by SG-FORGE on the Ethereum (ETH) network. To kickstart the private funding through the blockchain security bonds, Societe Generale announced that two of its top tier investors, AXA Investment Managers and Generali Investments. The company indicated the importance of tapping on blockchain technology to ensure utmost transparency in private funding through blockchain-based bonds.
“This transaction is the first digital green bond issued by Societe Generale to leverage blockchain’s differentiating functionalities. This digital format enables increased transparency and traceability as well as improved fluidity and speed in transactions and settlements,” the company noted.
Notably, the blockchain-based digital green bond by Societe Generale is a £10 million senior preferred unsecured bond with a maturity of three years. As a result, an amount equivalent to the unsecured bond will be used to fund eligible green activities that are identified by the Sustainable and Positive Impact Bond framework2 of Societe Generale.
Furthermore, the company’s digital green bond taps on Ethereum smart contracts to ensure utmost transparency on carbon footprint on information linked to digital bond infrastructure. Investors of the digital green bond now have the option of settling the transaction through on-chain EUR CoinVertible, a digital asset that was issued by SG-FORGE earlier this year.
Why Societe Generale Chose the Ethereum Network
The meteoric growth of the Ethereum network since its inception about a decade ago has attracted notable attention from both retail and institutional investors. As a result, the Ethereum network has registered significant increases in decentralized financial (DeFi) platforms with a total value locked (TVL) of more than $28 billion. As for the regulatory clarity, the Ethereum network cleared most of the hurdles after the merge event, which transitioned the mainnet from the proof-of-work (PoW) to the proof-of-stake (PoS). Moreover, the PoS consensus mechanism is much more environmentally friendly than the power-consuming mining infrastructure.
The Ethereum network has the leading daily on-chain activity that is secure for institutional investors to freely transact without compromising crucial data. As of this report, the Ethereum network leads in stablecoins market capitalization of more than $66 billion, which provides stable liquidity for deep-pocketed investors. The Ether developers have made it easy for real-world assets (RWA) tokenization through smart contracts that are multichain compatible via the Ethereum Virtual Machine (EVM).
The blockchain-based bonds have been identified as the easiest way of enabling private funding with more benefits from the European regulatory regime. Moreover, most crypto assets are prone to market manipulation, which puts most investors away.
French banking giant Societe Generale (SocGen) marks a significant shift in traditional finance’s approach to digital assets with its recent green bond issuance on the Ethereum network. This move highlights the growing interest among mainstream financial institutions in the potential of blockchain technology for enhancing transparency, efficiency, and sustainability in financial transactions.
Blockchain Technology Gaining Ground in Finance
SocGen’s €10 million issuance of digital green bond tokens, managed by its digital asset-focused arm SG-FORGE, represents a growing trend in the finance industry. This initiative captures the essence of how traditional financial (TradFi) institutions are increasingly adopting blockchain-based solutions. Last month, JPMorgan and Apollo, alongside several crypto firms, showcased the potential of blockchain in tokenizing funds, indicating a broader industry shift.
SocGen’s decision to use blockchain technology for issuing green bonds aligns with the global push towards sustainable finance. The digital format of these bonds allows for enhanced transparency and traceability, along with faster transaction and settlement processes. The issuance serves not only as a financial instrument but also as a stepping stone towards using blockchain as a data repository. This approach aids in the certification and transparency of Environmental, Social, and Governance (ESG) impact data globally.
Partners in Progress: AXA and Generali’s Involvement
AXA Investment Managers and Generali Investments, two leading financial institutions, played a pivotal role in this initiative by purchasing these tokenized bonds. Particularly noteworthy is AXA IM’s acquisition of €5 million worth of bonds using the euro-pegged stablecoin EURCV, facilitated by SG-FORGE. This transaction is part of a broader experiment to explore the use of stablecoins in settling digital bond purchases.
The bond issuance by SocGen is more than just a financial transaction since it signals the evolving landscape in traditional finance. With investment management firm 21.co projecting the market value of tokenized assets to potentially reach $10 trillion, the future looks promising for the integration of blockchain technology in mainstream financial operations. This development could begin a new era in which real-world assets are increasingly migrated to blockchain platforms, revolutionizing how we perceive and interact with financial assets.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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