Societe Generale collaborates with Bitpanda to boost crypto integration

The anticipated successful implementation of MiCA could pave the way for broader acceptance and integration of cryptocurrencies within established financial systems, potentially enhancing liquidity and reducing volatility in digital asset markets.

SWIFT will trial live digital currency and tokenised asset transactions next year to boost integration into the global financial system.

Societe Generale has partnered with Bitpanda to integrate crypto and stablecoins into the global financial system. The collaboration focuses on the mainstream adoption of Societe Generale-FORGE’s euro-denominated stablecoin, EUR CoinVertible (EURCV). The partnership is seen as a pivotal move towards establishing stablecoins as an essential element in modern finance, according to Jean-Mark Stenger, CEO of Societe Generale-FORGE.

As the Markets in Crypto-Assets (MiCA) bill prepares for full implementation on 30th December, both companies aim to position EURCV as a regulated, reliable digital currency for European users. Lukas Enzersdorfer-Konrad, Deputy CEO of Bitpanda, highlighted that regulated stablecoins will serve as a crucial link between traditional finance and the burgeoning crypto landscape.

Stablecoins play a vital role in facilitating access to digital assets, with the new EURCV set to be listed on the Bitpanda trading platform. With Societe Generale being one of the largest banking groups globally, holding over $1.7 trillion in assets, this partnership marks a significant step towards the evolving relationship between traditional finance and cryptocurrencies.

As the MiCA bill aims to establish a comprehensive regulatory framework for the crypto industry in the European Union, experts acknowledge that its success may depend on overcoming technical complexities and fostering international cooperation.