Societe Generale-FORGE (SG-FORGE) has announced the deployment of its Euro and Dollar stablecoins on the decentralised finance protocols, Morpho and Uniswap, through its partners.
The bank is expanding into decentralised finance with lending, borrowing and spot markets on Ethereum after rolling out its stablecoins on exchanges and brokers.
Morpho protocol vaults now enable lending and borrowing in USD CoinVertible (USDCV) and EURCoinVertible (EURCV), backed by assets like bitcoin, ether and tokenised money market funds, with more collateral to be added over time, according to SG-FORGE.
“This marks the beginning of an inevitable shift: banks are moving on-chain and Morpho will be their universal backend,” said Morpho in a social media statement.
Uniswap will provide a spot market for USDCV and EURCV. The Ethereum-based decentralised exchange uses an automated market maker protocol to enable direct crypto trading without intermediaries.
The bank said the new initiative aims to combine innovative technology with Societe Generale’s banking expertise to ensure stablecoin liquidity and compliance in crypto ecosystems.
