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Key Insights:
- Solana news is at it again, as SG-FORGE plans to launch its USD-backed stablecoin, USDCV, on Ethereum and Solana in July 2025.
- Geographic Restrictions: The stablecoin will be available in Europe but not in the U.S. due to regulatory issues.
- Solana’s Growth: USD CoinVertible will be supported on Solana, which is showing strong growth and high market activity.
Solana news is making rounds as Platform SG-FORGE from Societe Generale announced it will introduce a USD-backed stablecoin, USDCV.
It plans to launch them on the Ethereum and Solana blockchains. This is the second time Societe Generale’s crypto team is building a stablecoin. The USD CoinVertible will be launched in July 2025.
Steady growth is associated with SG-FORGE, a subsidiary of Group Societe Generale, in the world of crypto, owing to its trusted stablecoin offerings.
SG-FORGE successfully launched its initial EUR CoinVertible stablecoin on Stellar earlier this year and is now looking to introduce a USD CoinVertible stablecoin.
According to the company’s strategy, the move intends to offer more services for cryptocurrency customers by producing stablecoins supported by fiat currencies.
Just Another Dollar-Pegged Stablecoin?
The new USD Coin stablecoin will be pegged 1:1 to the US dollar token and will function on Ethereum and Solana, according to the firm’s report.
With two chains, now users on both platforms will be able to enjoy greater flexibility and scale in blockchain solutions.
The USD CoinVertible ensures clients can quickly convert USD and EUR currency to stablecoin to make quick and secure transactions on the blockchain. Like the euro version, USD CoinVertible will also be backed by real-world assets and is expected to remain steady.
SG-FORGE ensures transparency regarding the assets backing the loans. Users and regulatory bodies can check the reserves held by IAT regularly, as updated information is posted on the company’s website.
The Bank of New York Mellon Corporation, among the world’s top custodians, will make all the necessary arrangements for safely holding the USD Coin.
Because of this partnership, the coins in the reserve are managed using top security features and professional accountability.
SG-FORGE wants to serve the steadily rising demand for stablecoins in the crypto market. Podstrong USD CoinVertible will allow both businesses and individuals to interact more securely and stably because the stablecoin market mainly focuses on the U.S. dollar.
Stenger, CEO of SG-FORGE, stated that launching a USD-backed stablecoin was the right step, given that stablecoins are being adopted by more people worldwide.
He said that having the USD CoinVertible would add value to clients, including financial institutions, companies, and everyday individuals, who would have greater access to institutional-grade stablecoin services.
Solana News: Performance and the Potential Impact
The USD Coin will initially operate on Ethereum and Solana, which are known to be among the most respected blockchains in the crypto world. The fact that the platform executes transactions quickly and charges few costs is a key reason that Solana saw strong growth and became a good home for the stablecoin.
Solana’s chart below demonstrates how it has trended upward in the past month. On this day, Solana (SOL) rose to a resistance level of $159.59. At the same time, high trading volume reflected people’s confidence about the market’s future.
The price pattern on the chart suggests that Solana is ready for a potential surge that could attract more users for blockchain-related stablecoins, including USD Coin.
If we look at the Solana 1-hour chart, the trend is upwards, as the price went from $146 in early June to $159.
Because of this, there is strong support for further price increases coming from regular buying near an established uptrend line. The resistance level at $160 should be noted, as it might affect the direction of prices going forward.
As of press time, Solana’s price was $158.12, up 1.32% in the previous 24 hours, and its trading volume had increased by 24.73%. This means that Solana’s market is active based on the Solana news.