German Asset Manager DWS to Issue Euro Stablecoin Along with Galaxy
To uphold the token’s value, stablecoin issuers often reserve cash or liquid assets. Amid rising interest rates, DWS is poised to manage the reserves for the new stablecoin.
Some of the leading companies in the financial industry, including Societe Generale and the London Stock Exchange, have partnered to study the potential use cases of the blockchain technology.
To uphold the token’s value, stablecoin issuers often reserve cash or liquid assets. Amid rising interest rates, DWS is poised to manage the reserves for the new stablecoin.
Unlike what JPMorgan offers with its JPM Coin, the EUR ConVertible will be available for trading, thus opening up immediate access for a wide range of investors.
Investors of the digital green bond now have the option of settling the transaction through on-chain EUR CoinVertible, a digital asset that was issued by SG-FORGE earlier this year.
This license will allow FORGE to serve institutional clients’ needs for digital assets. The banking institution is the first to secure a license under France’s new crypto rules.
SG-Forge CEO stated that the EUR CoinVertible smart contract was audited by the professional services network PwC before launch.
Societe Generale reported revenue rose by 8% year-over-year to 28.1 billion euros.
In the latest announcement on France and Luxembourg collaborating on the Venus project, it was revealed that both institutions are proposing cross-border settlements.
The news of Société Générale receiving the go-ahead as a crypto asset services provider in France came after the institution’s previous attempts into the market.
The announcement of the new product from Societe Generale was also accompanied by the announcement that the new product has now been adopted by Arquant Capital SAS.
The bank reported a revenue hit of 7 billion euros for the quarter while its operating expenses topped 4.5 billion euros.