Société Générale Introduces Stablecoins on Morpho and Uniswap
Societe Generale’s digital asset division has officially launched on Morpho and Uniswap, extending its regulated EURCV and USDCV stablecoins beyond centralized exchanges and into the core of decentralized lending and spot markets.
Summary
- Societe Generale-FORGE has rolled out euro and dollar stablecoins on Morpho and Uniswap.
- Users can now borrow against BTC, ETH, and tokenized money market funds, with liquidity and risk managed by Flowdesk and MEV Capital.
- This development illustrates the increasing institutional interest in DeFi and examines how regulated bank-issued stablecoins perform in decentralized markets.
As per a press release from Sept. 30, SG-FORGE has launched its euro and dollar stablecoins on two key DeFi protocols. Users on Morpho can now borrow EURCV and USDCV using a range of crypto collateral, including wrapped Bitcoin and staked Ether.
At the same time, these stablecoins have been listed on Uniswap, with Flowdesk supplying liquidity for spot trading. This initiative, supported by specialized partners like MEV Capital for risk management, represents the division’s first significant entry into the public Ethereum DeFi space.
The significance of Societe Generale’s stablecoin launch
According to the announcement, the deployment is a direct response to the increasing institutional appetite to engage with digital assets beyond traditional market hours and centralized entities.
SG-FORGE indicated that its stablecoins are not designed to replace existing options, but to serve as regulated instruments for targeted, capital-efficient use cases.
“SG-FORGE aims to provide a complementary solution for its clients who wish to utilize these robust and regulated assets around the clock for financial operations,” the company stated, implying a shift from considering DeFi as a distinct sector to viewing it as another operational venue, comparable to a new trading floor or settlement network.
In addition to the common crypto collateral of wrapped Bitcoin and staked Ether, the Morpho vaults introduce a new asset class: tokenized money market funds. Specifically, the USTBL and EUTBL funds issued by Spiko will be accepted, merging traditional yield-generating instruments with decentralized lending for the first time in this setting.
Overseeing this prudent expansion is MEV Capital, which has been assigned a vital curatorial role. The firm will manage the list of eligible crypto assets used as collateral, ensure efficient capital allocation within the vaults, and serve as a safety net by handling default risks as a last resort.
Uniswap plays a crucial role in this rollout. By introducing EURCV and USDCV into automated trading pools, Societe Generale is testing whether bank-issued stablecoins can function under the same liquidity principles that apply to crypto-native tokens.