By Societe Generale, a huge player in mainstream finance, has announced a strategic partnership with Bitpanda.
The goal is to promote the use of cryptocurrencies and stablecoins as key parts of the global financial ecosystem.
Bitpanda Teams Up with Societe Generale to Expand Euro Stablecoin
The collaboration will see Bitpanda work alongside Societe Generale’s blockchain arm, Societe Generale-FORGE. Both parties will help push for wider use of Societe’s euro-stablecoin, EUR CoinVertible (EURCV).
According to Jean-Mark Stenger, CEO of Societe Generale-FORGE, this partnership marks an important milestone in making stablecoins a major player in traditional finance. Stenger expressed optimism about the collaboration, saying it will provide European users with a reliable and secure digital currency option.
NOW at Bitpanda stage: Climate Finance and Carbon Banking @Marochini1975 (Societe Generale), Martijn Siebrand (@ABNAMRO), and @emyallaert (@BlockchainLabLU) are live, sharing their insights on leveraging DLT for carbon credits and tackling climate change. The discussion focuses… pic.twitter.com/OPRqFfa24Q
— European Blockchain Convention (@EBlockchainCon) September 26, 2024
Similarly, Lukas Enzersdorfer-Konrad, Bitpanda’s Deputy CEO, believes the partnership is timely. Enzersdorfer-Konrad expects euro-based stablecoins to be important for the European crypto market moving forward.
He further explained that fully regulated stablecoins can bridge the old and new financial systems, helping the integration process. Through this partnership, Bitpanda and Societe Generale aim to bring that vision closer to reality.
Stablecoins are in High Demand
Stablecoins are increasingly becoming the entry point for investors looking to transition from fiat currencies to digital assets. A euro-based stablecoin like EURCV compliant with MiCA is expected to attract more institutional and retail investors to the crypto space. Once listed on Bitpanda’s platform, EURCV will provide European investors with a stable and regulated digital currency for trading.
Just announced live on stage at the @EBlockchainCon by @eric_demuth – Bitpanda will soon be listing EUR CoinVertible (EURCV) thanks to our latest collaboration with Societe Generale-FORGE.
EURCV is the first EU based stablecoin to be launched by a fully integrated and regulated… pic.twitter.com/9WzSNkfJgo
— Bitpanda (@Bitpanda_global) September 25, 2024
Meanwhile, the upcoming MiCA regulation is set to reshape the European Union’s approach to digital assets. Many crypto firms, including Kraken, are already preparing for this shift.
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Nermeen Nabil Khear