Société Générale’s euro-backed stablecoin issuance marks a watershed moment for Europe’s digital asset space. Hopes are high that a stablecoin issued by a major lender, in full compliance with EU regulations, will see the increased use of digital money in capital market settlement, and see stablecoins finally live up to their name after a rocky few years.
“We’re talking about a large international bank that is looking to take advantage of the developing regulation in the EU,” says Andrew Barber, a partner at law firm Pinsent Masons. “[It’s] a prelude of what’s to come.”
