PANews reported on May 20 that according to Cryptobriefing, people familiar with the matter said that SG Forge, a crypto subsidiary of French banking giant Societe Generale, is about to launch the world's first bank-issued US dollar stablecoin, which will be first launched on the Ethereum network and will be expanded to other public chains such as Solana. This move will make Societe Generale the first multinational banking group to issue a US dollar stablecoin on a public chain. The stablecoin is mainly aimed at institutional investors and aims to meet the EU's demand for regulated US dollar liquidity tokenization. SG Forge holds an EU electronic money license, and its euro stablecoin EURCV, launched in April 2023, currently has a circulation of 40 million euros.