Home / Business and Economy / SocGen Embraces Crypto: More Clients, Stablecoin Growth Expected
SocGen Embraces Crypto: More Clients, Stablecoin Growth Expected
22 Apr
Summary
- Societe Generale's crypto unit has 15 clients, expanding banking services.
- The bank issued publicly traded stablecoins in 2025 and 2023.
- Limited uptake of SocGen's stablecoins contrasts with larger global players.
Societe Generale is expanding its services to more cryptocurrency firms, with its SG-Forge CEO, Jean-Marc Stenger, predicting increased use of stablecoins by corporate clients. The bank's crypto division presently serves 15 clients, including exchanges and wallet providers, offering traditional banking services as the European crypto market matures under new EU regulations.
SocGen has taken a unique position among major banks by issuing publicly traded stablecoins, including a dollar-pegged token in 2025 and a euro-pegged token in 2023. However, these tokens have experienced limited adoption so far, with volumes significantly smaller than those of global leaders like Tether and Circle.
Stenger believes this situation could change as crypto companies seek euro-pegged stablecoins for European retail clients, potentially driving demand for European alternatives. While stablecoins are primarily used for trading, SocGen anticipates future corporate applications in managing cash and collateral, though current market impact on liquidity remains negligible according to analysts.
