Share this article
SocGen to Introduce EURCV Stablecoin, Picks Flowdesk as Market Maker
The stablecoin, EUR CoinVertible, isn't the first based on the euro, but it does have the backing of Societe Generale, a major European financial institution.
Updated Mar 8, 2024, 6:15 p.m. Published Dec 5, 2023, 2:00 p.m.
Flowdesk announced that it has been appointed by Societe Generale’s (GLE) Forge as the market maker for its new euro-based stablecoin, .
Market making involves providing liquidity in financial markets by acting as an intermediary that facilitates trades between buyers and sellers, ensuring smoother and more efficient transactions. Without market makers, finding a buyer or seller for a specific financial instrument at a specific time and price could be challenging and would lead to periods of intense price volatility.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Looking ahead as we approach 2024, we envision a transformative impact where compliant blockchain-based operations by institutions will drastically increase in volume - and this is what we have been preparing since the inception of Flowdesk,” Guilhem Chaumont, CEO and co-founder of Flowdesk, said in a release.
As a market maker, Flowdesk will be tasked with supplying liquidity for EURCV-EUR and EURCV-USDT trading pairs on Bitstamp and other platforms and is among the select entities authorized by SG-FORGE to trade EURCV, according to the release.
EURCV isn’t the first euro-denominated stablecoin, but it is the first with major institutional support. Circle and Tether have also launched Euro stablecoins, but both have thin trading volumes, according to on-chain data.
UPDATE (Dec. 6, 9:20 UTC): Rewrites headline to add Societe Generale
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Markets Today: Bitcoin Slips Back Toward Danger Zone Ahead of Fed Decision
Bitcoin surrendered gains from earlier in the week, fell back toward $90,000 as traders braced for Wednesday’s Federal Reserve rate decision.
What to know:
- A 25 basis-point interest-rate cut has been priced in for weeks, and risk assets could drop on the news if no fresh catalysts emerge.
- Tokens like HYPE, STRK, QNT and KAS fell 6%–9% in 24 hours
- CoinMarketCap’s altcoin-season index sits at a cycle low of 18/100.
- Bitcoin is down 20% over 90 days and more than half of the top-100 tokens have fallen at least 40%. FET and TIA are among the worst performers while ZEC, DASH, BNB and BCH stand out as rare stabilizers.
Top Stories
