Following the Euro, Now the US Dollar... Collaboration with New York Mellon Bank
Trading to Begin in Early July... 24/7 Coin Exchange Support
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SG-FORGE has selected New York Mellon Bank as the preliminary custodian for USD Coinvertible. Through collaboration with New York Mellon Bank, institutional, corporate, and individual investors of USD Coinvertible will be able to instantly exchange fiat currency and stablecoins 24/7 from early July this year.
USD Coinvertible supports various financial activities including cryptocurrency trading, cross-border payments, foreign exchange trading, on-chain payments, and cash management. The token is expected to be listed on major exchanges and secure trading liquidity through well-known market makers.
Societe Generale and New York Mellon Bank aim to build trust in the global cryptocurrency market and realize a safe connection between fiat currency and cryptocurrency through this collaboration.
Jean-Marc Stenger, CEO of SG-FORGE, stated, "After launching EUR Coinvertible in April 2023, we have secured market trust by thoroughly complying with the EU's MiCA regulations" and "This launch of a US dollar-based stablecoin is a key step in our global expansion strategy based on institutional-grade infrastructure".
SG-FORGE plans to disclose the collateral asset composition and valuation information of USD Coinvertible on its website daily from July, and operates under strict regulation after obtaining an Electronic Money Institution (EMI) license from the French Prudential Supervision and Resolution Authority (ACPR).
Carolyn Weinberg, Chief Product and Innovation Officer at New York Mellon Bank, commented, "Stablecoins are key infrastructure that improve operational efficiency, enhance resilience, and open new opportunities for businesses and investors" and "This collaboration will promote the sustainable growth of digital finance".
Reporter Jung Ha-yeon yomwork8824@gmail.com
