Société Générale taps Bullish to launch first MiCA-regulated USDCV

- Société Générale-Forge debuts the USD CoinVertible (USDCV) stablecoin on Bullish Europe's trading platform. - The move marks the first MiCA-licensed stablecoin launch on a BaFin-regulated exchange. Société Générale-Forge, the crypto-focused division of French banking giant Société Générale, launched its USD CoinVertible (USDCV) stablecoin on Bullish Europe’s trading platform on September 23, 2025. According to Cointelegraph on September 23, this milestone marks the first MiCA-licensed stablecoin launch on a BaFin-regulated exchange. The move expands access to regulated digital assets across the European Union. Société Générale-Forge designed the USDCV stablecoin for versatile applications in both retail and institutional markets, including uses for remittances, foreign exchange, payments, and as a store of value. This initiative builds on the company's earlier introduction of EUR CoinVertible (EURCV), a euro-pegged stablecoin launched in 2023 for institutional clients. The Markets in Crypto-Assets Regulation (MiCA) classifies both stablecoins as e-money tokens, allowing them to be transferred freely across the EU market. Bullish Europe is the first exchange to offer the USDCV stablecoin and operates under Germany's Federal Financial Supervisory Authority (BaFin). The platform's compliance with MiCA ensures secure, regulated trading of digital assets, meeting a growing demand from corporates, financial institutions, and exchanges. In addition, France’s Autorité de Contrôle Prudentiel et de Résolution granted Société Générale-Forge an electronic money institution license. The Bank of New York Mellon serves as the custodian for USDCV's backing assets, which strengthens the stablecoin's operational credibility and security. The USDCV launch highlights Europe’s growing participation in the stablecoin market, an area U.S.-based players have traditionally dominated. This development aligns with the European Union’s broader push under MiCA to enhance regulated digital asset capabilities and foster adoption across institutional and retail sectors.