How much EURCV existed on November 12, 2026
How big is Societe Generale’s euro stablecoin? Its issuer’s product page, read at 06:46 UTC on November 12, 2026, put EUR CoinVertible in circulation at 171,852,061.11, with a last update dated the same day.
The tokens live on several blockchains, and each ledger can be read directly. Readings taken minutes later, using the contract and issuer addresses that SG-Forge links from that page, gave this split.
| Network | EURCV recorded | How it was read |
|---|---|---|
| Ethereum | 144,489,752.70 | token supply at block 26,397,157, public node |
| Stellar | 15,030,600 | issuer’s asset record, Horizon API |
| XRP Ledger | 10,000,000 | issuer’s obligations, validated ledger 108,276,885 |
| Solana | 1,645,843.91 | mint supply, public RPC |
The four readings add up to about 171.17 million, some 0.69 million below the issuer’s own figure, and SG-Forge also lists a contract on the Canton network, which was not read for this entry.
Ethereum alone carried about 84% of the tokens.
Issuer, license and reserves
ESMA’s register file of e-money token issuers, last modified on November 11, 2026, lists Société Générale – Forge of Puteaux as an electronic money institution supervised by France’s ACPR, authorized on July 1, 2024. The same row shows its white paper last updated on September 30, 2026.
That white paper describes a collateral test run on every business day. Reserves held in segregated accounts must be worth at least one euro per token outstanding, and cash must make up at least 30% of that amount, with the rest in euro securities rated at least as high as Societe Generale’s senior preferred debt.
The legal frame comes from MiCA. Article 49 gives holders a claim on the issuer, redemption at any time and at par, and says redemption “shall not be subject to a fee.” Article 50 bans interest, and the white paper confirms EURCV pays none.
What redemption looks like
An EEA resident who wants euros back emails the issuer, which confirms receipt within five business days and then runs identity, anti-money-laundering and sanctions checks. The euros are due “at the latest on the last Business Day of the month following the month the controls were successfully completed,” the white paper says.
Most holders never deal with SG-Forge directly. Institutions it has onboarded buy and redeem at 1:1 by bank transfer, and the white paper lists Bitstamp, Bullish, Bit2me and Bitvavo as exchanges trading the token on its notification date. EURCV sits in the ESMA file alongside the other MiCA-compliant stablecoins issued in euros and dollars.
Three things to check
The first is where you live. Holders outside the EEA “do not benefit from a direct right of redemption with the Issuer,” and the white paper rules out any EURCV transaction between SG-Forge and a US resident.
The second is timing. Par value is promised, but the payout window can run past a month, which matters for anyone counting on stablecoin redemption as a quick exit.
The third is units. Data site DefiLlama’s stablecoin feed valued EURCV at about $187.6 million that morning, at a price of $1.1076 per token, which is a dollar value and works out to roughly 169 million tokens.