OREANDA-NEWS  Announced in early April this year, the CoinVertible stablecoin, which is being developed by a division of the French bank Societe Generale, began trading on the Luxembourg cryptocurrency exchange BitStamp. This was stated in a comment to the Financial Times by the head of Societe Generale Forge, Jean-Marc Intern.

His division specializes in working with digital assets, and previously it received a corresponding license from the French regulator. The cryptocurrency created on the basis of the Ethereum blockchain is linked to the euro.

According to the Intern, the cryptocurrency ecosystem revolves around several stablecoins, but 90 percent of them are pegged to the dollar. The bank decided that a coin linked to the euro would also be in demand in the cryptocurrency market.