FILE PHOTO: The logo of Societe Generale bank is pictured on an office building in Nantes, France, March 16, 2023. REUTERS/Stephane Mahe/File Photo
PARIS (Reuters) -France's Societe Generale said on Tuesday it plans to launch a publicly tradable, dollar-backed stablecoin through its digital asset subsidiary, making it the first major bank to enter the growing market of dollar-pegged cryptocurrencies.
The new digital currency, named "USD CoinVertible", will be issued on both the Ethereum and Solana blockchains, with public trading expected to start in July, SocGen's crypto arm SG-FORGE said in a statement.
