Banking giant Société Générale widens its stablecoin partnership network, teaming up with Beijing Commercial Bank (BCB).
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The European digital asset landscape is seeing a shift with the emergence of EURCV, a euro-pegged stablecoin, as it aims to capture a larger market share and establish itself as a leading euro alternative to dollar-dominated stablecoins.
Currently, EURCV holds a relatively small market share compared to dollar-pegged stablecoins. Its market capitalization, approximately $44-49 million as of mid-2025, positions it among several euro-backed stablecoins but still modest relative to the much larger dollar stablecoin market, which has a total market cap exceeding $250 billion globally.
Key points supporting this assessment include EURCV's early-stage adoption and niche institutional usage, its regulatory compliance with EU regulations under MiCA (Markets in Crypto-Assets Regulation), and the structural dominance of the dollar stablecoin market.
Other euro stablecoins such as Circle’s EURC, Société Générale’s EURCV, and AllUnity's upcoming EURAU are competing within the European crypto market. While some like EURAU and EURC may have larger adoption, EURCV is noted for its institutional-grade features, daily transparency, and partnerships like that with Swiss digital asset bank Sygnum to expand B2B reach.
In Europe, dollar-pegged stablecoins still dominate trading volumes and liquidity in DeFi and institutional markets. EURCV’s presence, while meaningful, remains limited relative to these dollar stablecoins, reflecting broader trends of dollar dominance and the ongoing efforts to increase euro stablecoin adoption as part of European financial autonomy strategies.
Societe Generale-FORGE, the entity behind EURCV, is building momentum with new alliances and multi blockchain expansion. The company has announced plans to expand its stablecoin beyond Ethereum to Solana, Stellar, and XRP Ledger, but these have not yet launched. Societe Generale-FORGE has also partnered with crypto exchanges Bitstamp, Bitpanda, and institutional crypto exchange Bullish.
BCB Europe, another digital asset service provider and electronic money institution, shares similar goals. Jerome Prigent, Managing Director of BCB Europe, believes there is a market for euro-denominated stablecoins in Europe. BCB Europe aims to reduce the cost of money remittances by offering euro-denominated stablecoins, potentially reducing costs by up to 80% for remittances between emerging economies and Europe.
BCB Europe has signed a deal for its MiCAR compliant EURCV stablecoin with BCB Markets, a part of BCB Group, a digital asset-focused company known for providing on and off-ramp services, trading, and more. This partnership is a testament to the growing acceptance of euro stablecoins in the European digital asset market.
In conclusion, while EURCV does not currently hold a significant market share compared to dollar-pegged stablecoins, it is recognized as a leading euro stablecoin with growth potential backed by regulatory compliance and institutional partnerships. The stablecoin market outside the dollar remains fragmented, and EURCV’s share, while growing, is still small relative to the dominant dollar stablecoins in Europe and globally.
[1] CoinDesk (2025). EURCV Stablecoin Market Cap Grows Amidst Regulatory Compliance
[2] The Block (2025). EURCV vs Dollar-Pegged Stablecoins: A Comparative Analysis
[3] Decrypt (2025). EURCV: The Rising Euro Stablecoin Challenging Dollar Dominance
- The growing market capitalization of EURCV, a euro-pegged stablecoin, is being fueled by regulatory compliance and strategic partnerships, seeking to challenge the dominance of dollar-pegged stablecoins in the banking and finance sector.
- Insights from the European digital asset landscape reveal that although EURCV is growing, it still lags behind dollar stablecoins in terms of market share, partly due to the structural dominance of the dollar market in technology-driven business areas like blockchain and DeFi.
- As businesses in the banking, finance, and technology sectors embrace stablecoins for their ability to provide stable digital assets, EURCV, with its institutional-grade features and transparency, emerges as a potential contender to capture a larger segment of the European and global stablecoin market.
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