Societe Generale, the French banking group, plans to bring its CoinVertible stablecoins to Canton Network as it expands on-chain financing for institutional clients.
The bank said in a May 13 press release that the work will be led by Societe Generale-FORGE, its crypto subsidiary and the initiative builds on Societe Generale's first U.S. tokenized bond issuance on Canton Network in November 2025.
According to the press release, Societe Generale wants to accept some tokenized assets as eligible collateral, act as a counterparty in on-chain repo transactions and use stablecoins for settlement across permitted markets.
- In regular finance, collateral and repo trades still rely on several systems, intermediaries and settlement windows.
- On Canton Network, the bank is trying to test whether tokenized assets, cash and financing trades can move in a more synchronized way.
Societe Generale expands tokenized finance push
In addition, Societe Generale will become a super validator on Canton Network and will participate in the construction of the network as it develops institutional use cases for tokenized collateral.
But the stablecoin segment remains marginal compared with the overall stablecoin industry. According to data from CoinGecko, the market capitalization of EUR CoinVertible, the euro stablecoin of SG-FORGE, amounts to around $123 million. As for USD CoinVertible, the dollar stablecoin of the same project, its market capitalization is estimated at about $20 million.
The total value of both CoinVertible tokens is around $143.5 million, which is negligible compared with the $311 billion USD stablecoin category of CoinGecko.