Bullish Europe brings new US dollar stablecoin USDCV to Europe

Bullish Europe brings new US dollar stablecoin USDCV to Europe

On October 7, 2025, Bullish Europe announced the launch of USD CoinVertible (USDCV), a new, regulated stablecoin developed in partnership with Societe Generale-FORGE. Crypto.news reports that this innovation is aimed at the growing needs of institutional and retail investors looking for regulated digital assets.

USDCV is a US dollar-pegged stablecoin that is fully compliant with the Markets in Crypto-Assets (MiCA) Regulation. This ensures that the stablecoin meets the highest regulatory standards, which is particularly important for institutional investors. The stablecoin is backed 1:1 with cash or high-quality collateral.

Market development and competition

The market for dollar-pegged stablecoins is dominant in Europe: they currently make up 99% of the entire European stablecoin market. USDCV complements SG-FORGE's existing offering, which also includes the euro-pegged EUR CoinVertible (EURCV), which was launched back in April 2023. EURCV has a circulating supply of approximately 42 million tokens and a market capitalization of approximately $66.35 million, classifying it as the third largest euro-pegged stablecoin after EURC and STASIS EURO.

Marco Bodewein, CEO of Bullish Europe, highlights the importance of the new USDCV for institutional investors as it offers them a regulated and trustworthy way to invest in digital assets. Jean-Marc Stenger, CEO of Societe Generale, adds that the launch of USDCV is a logical step given the growing interest in stablecoins.

A look at the global market

Market research by Jürgen Schaaf, advisor to the European Central Bank, shows that the global market for stablecoins is heavily dominated by US dollar-pegged variants. According to Schaaf, these account for 99% of the stablecoin market, while euro-denominated alternatives such as the EURCV have so far only had a minimal market share. This shows the immense potential for USD-pegged stablecoins, especially in Europe, where the need for regulated digital markets is constantly increasing.

Overall, the launch of USDCV by Bullish Europe and Societe Generale opens up new perspectives for trading digital assets in a rapidly evolving market. The focus on regulations and high standards is expected to help increase trust in digital currencies and increase interest in stablecoins.