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Euro-Backed Stablecoin Under Development By Societe Generale
A stablecoin pegged to the euro, EUR CoinVertible, is being launched by Societe Generale-Forge (SG-Forge), breaking new ground in the world of cryptocurrency. This move is set to shake up the digital currency market by offering institutional clients a new way to transact in cryptocurrencies without the volatility often associated with the industry. With the backing of a well-established banking…
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Crypto developers expose ‘absolutely horrible’ flaws in Societe Generale euro stablecoin
Several crypto developers have found flaws in the smart contract code of Societe Generale’s (SG) euro stablecoin, EURCV. On April 20, SG said the EURCV would be limited to investors onboarded by Societe Generale group through its existing compliance procedures. Developers highlight flaws Software engineer Cygaar discovered that the bank could take and burn all of its users’ money through certain…
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‘Worst code I’ve ever seen’: Euro stablecoin faces centralization criticism
Some pundits shared harsh sentiment toward a new euro-pegged stablecoin, but it’s not publicly accessible for the time being.
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