Bitpanda brings Societe Generale’s stablecoins to DeFi

Bitpanda partnered with the Societe Generale digital asset arm to offer its stablecoins to retail users in Europe.

Bitpanda and Societe Generale-FORGE have partnered to bring Europe’s first bank-issued, MiCA-compliant stablecoins to retail DeFi users. On Tuesday, Oct. 14, SG-FORGE-issued EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) will be available through Bitpanda’s DeFi Wallet.

The partnership means that European DeFi users will be able to access MiCA-compliant stablecoins. Notably, these assets will be available for DeFi lending, borrowing, and more. According to Societe Generale-FORGE, it also represents the bank’s entry into DeFi.

“As the digital asset subsidiary of Societe Generale, SG-FORGE is excited to collaborate with Bitpanda, a key player in the evolving digital landscape. After establishing euro and dollar stablecoins as cornerstone assets within the Bitpanda ecosystem, we are now taking a decisive step forward by expanding, through our partnership, into the world of DeFi”, said Jean-Marc Stenger, CEO of Societe Generale–FORGE.

Bitpanda and Societe Generale bring stablecoins to European DeFi

Bitpanda and SG-FORGE started their partnership in September 2024, centered around the EURCV and USDCV stablecoins. Notably, the EURCV stablecoin already serves as the preferred stablecoin for margin trading on Bitpanda. According to the two firms, they share the vision of making stablecoins more accessible to the public.

“This is a milestone moment for Web3 in Europe. SG-FORGE is one of the most forward-thinking institutions in banking, and their commitment to real-world adoption of blockchain technology is unmatched. By integrating their stablecoins into the Bitpanda DeFi Wallet, we are laying the groundwork to create real ways people can benefit from Web3 and creating a new era of interoperable, regulated finance”, said Lukas Enzersdorfer-Konrad, Co-CEO of Bitpanda.