French banking giant Société Générale (OTC:SCGLY) is expanding its crypto client base through its digital asset subsidiary, Société Générale-FORGE (SG-Forge), as it positions for a projected rise in stablecoin usage.

Building A Broader Crypto Client Base

The bank currently serves about 15 crypto-focused firms, including exchanges, brokers and wallet providers. It has increasingly begun offering traditional banking services to crypto-native companies as Europe's regulatory framework continues to mature.

CEO Jean-Marc Stenger said the bank expects corporate use of stablecoins to grow, although adoption remains limited, according to a Reuters report.

At present, stablecoins are primarily used for trading rather than payments, with minimal integration into corporate treasury and cash management functions.

Société Générale remains one of the few major banks to issue publicly traded stablecoins. It launched a euro-pegged token in 2023 and a U.S. dollar-pegged version in 2025.

However, adoption has been modest. Its euro-denominated stablecoin remains significantly smaller than offerings from major issuers such as Tether and Circle.

Early Mover In Bank-Issued Stablecoins

Analysts say demand for euro-based stablecoins could rise as European crypto firms seek local alternatives. Even so, stablecoins currently have limited impact on banks' liquidity and treasury operations, underscoring the early stage of adoption.

In mid-April, Société Générale said its digital asset arm made its U.S. dollar stablecoin, USD CoinVertible, available on the MetaMask wallet through a partnership with blockchain firm Consensys.

The integration gives the token access to millions of MetaMask users. It allows users to convert fiat currency into the stablecoin, trade crypto assets and pay blockchain transaction fees, with the goal of improving usability and adoption.

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