The French bank Societe Generale’s digital asset subsidiary, Societe Generale-FORGE, has added the MiCA-compliant dollar stablecoin USDCV to MetaMask, which is one of the most popular self-custodial crypto wallets. The news was confirmed by Bloomberg and announced on April 15, 2026. It marks one of the most direct efforts yet by a major global bank to plant its digital currency inside a retail crypto product used by tens of millions of people.
Full access across mobile and web
USDCV, formally known as USD CoinVertible, is now available to MetaMask users on both mobile and web platforms. Users can hold the stablecoin, trade it, and deploy it across decentralized finance (DeFi) protocols without leaving the wallet interface.
A fiat on-ramp powered by payments provider Transak is also included, allowing users to convert regular currency into USDCV in a few steps. Furthermore, using the gas station of MetaMask, users are now able to pay Ethereum transaction fees using USDCV directly and do not require having ETH in their wallets.
A regulated bank token, not just another stablecoin
The USDCV is backed by cash at 1:1 redeemability for US dollars. The institutional backing is what makes it different from dominant stablecoins like USDT and USDC. Europe’s giant bank, Societe Generale, issues USDCV via SG-FORGE, a licensed and regulated digital asset subsidiary under the EU’s Markets in Crypto-Assets (MiCA) guidelines. BNY Mellon, the world’s largest custodian bank, keeps the reserves.
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Societe Generale launched USDCV in June 2025, becoming the first major European bank to issue a dollar-pegged stablecoin on public blockchains. The token is available on both Ethereum and Solana. It followed the bank’s earlier euro stablecoin, EURCV, which debuted in April 2023 and was the first institutional stablecoin issued on a public blockchain by a bank. Neither token is available to US individuals due to securities law restrictions.
The DeFi expansion behind the MetaMask listing
The MetaMask integration is the latest in a series of aggressive distribution moves by SG-FORGE. In September 2025, the bank deployed both USDCV and EURCV on Morpho, an Ethereum-based lending and borrowing protocol, and listed them on Uniswap with liquidity provided by market maker Flowdesk. That same month, regulated crypto exchange Bullish Europe became the first platform to list USDCV for trading.
In November of 2025, the Deutsche Börse Group entered into a partnership with SG-FORGE to explore integrating CoinVertible stablecoins into its post-trade infrastructure, including collateral management, securities settlement and more at Clearstream, its post-trade division. The agreement positioned USDCV and EURCV as potential settlement instruments for institutional financial markets, not just retail DeFi.
Banking meets DeFi: the wider context
The announcement comes at a crucial moment for stablecoin adoption. The GENIUS Act, signed into law July 2025 in the USA, gave stablecoins a first-ever formal legal identity as a payment instrument under federal and state law. They may be issued by banks and licensed non-bank entities, which are subject to regulatory oversight. MiCA has been in operation in Europe since 2024. USDCV meets the qualifications of an Electronic Money Token, which is fully compliant.
The market capitalization of the global stablecoin industry surpassed $250 billion in 2026. USDT and USDC have a combined market capitalization of nearly $260 billion. This amount is 2.6 times in 2023. Even though the market cap of USDCV is smaller, the bank appears to value the distribution and trust enabled by regulation over the liquidity itself.
A new rivalry inside MetaMask
The integration gives rise to a subtle yet significant interaction within MetaMask itself. In August 2025, Consensys introduced the MetaMask USD stablecoin, abbreviated mUSD, using Bridge a Stripe company, and engineered on the M0 framework. mUSD is designed to be the wallet’s default dollar-denominated asset, deeply embedded in its swap, bridge, and card spending features.
With USDCV now also live inside MetaMask, two competing visions of the “digital dollar” now coexist in the same wallet: one backed by a 160-year-old European bank and MiCA regulation and the other built natively by a Web3 software company through fintech infrastructure. Which one users gravitate toward, and whether they even distinguish between the two, will be one of the more telling indicators of how the regulated stablecoin market matures.
For Societe Generale, the MetaMask listing is not the end point. It is the first time a major bank’s stablecoin has reached directly into the self-custodial wallets of retail crypto users at scale, and it will not be the last bank to try.
