AXA Investment Managers has completed its first real-time market transaction using a stablecoin issued by Societe Generale's digital asset department, SG Forge. In this transaction, AXA IM first purchased 5 million euros worth of the CoinVertible stablecoin (EURCV), which is a digital asset deployed on the Ethereum public blockchain and pegged to the euro. It was then used to invest in green bonds issued by Societe Generale on the Ethereum public blockchain in the form of "security tokens".

Societe Generale FORGE, a subsidiary of French banking group Societe Generale, has launched a stablecoin called EUR CoinVertible (EURCV) tied to the Euro and issued on the Ethereum blockchain. The stablecoin aims to provide stability and safety in the volatile world of digital assets, and is backed by cash deposits and cash equivalents denominated in EUR. Crypto exchange Bitstamp is the first to list EURCV, and is opening order books for the EURCV/USDT and EURCV/EUR trading pairs. Initially, deposits and withdrawals will only be enabled for investors whitelisted by Societe Generale, and the bank's existing KYC and AML compliance procedures will apply to onboarding digital token holders.