French bank Société Générale (SG-Forge) has announced the launch of EUR CoinVertible, a euro-pegged stablecoin aimed at institutional clients, Cointelegraph reported. SG-Forge CEO Jean-Marc Stenger said that in the coming weeks, Societe Generale will gauge the interest of potential customers and answer their questions for gradual adoption. The EURCV stablecoin is only available to institutional investors who join Societe Generale through its KYC and AML procedures. SG-Forge said the digital asset was launched in response to growing demand for new settlement assets for on-chain transactions. The EUR CoinVertible stablecoin complies with key market standards, including an open-source interoperability and securitization framework called the Security Token Compatible Architecture, or CAST, which the bank says will ensure that the collateral assets backing the stablecoin’s value are “completely segregated” from the issuer and will Daily transparency reports and collateral positions will be provided.