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SG-Forge Partners with BCB to Expand EURCV Stablecoin Distribution
With BCB on board, EURCV enters one of crypto’s largest fiat settlement networks. SG-Forge now doubles down on distribution to banks, brokers, and payment firms.
Louis Tellier & Maximilian Vargas
June 05, 2025
Oh, how times change. Back in 2017, Jamie Dimon vowed to “fire any trader in a second for trading Bitcoin.” Yesterday Bloomberg reported that JPMorgan plans to let trading and wealth-management clients use cryptocurrency-linked assets — starting with BlackRock’s IBIT — as collateral for loans.
While Dimon may not be lining up to buy sats himself, it’s certainly a full-circle moment for an asset once dismissed as volatile, speculative, and beloved by money launderers — hardly the kind of thing you’d bring to your banker.
Now Bitcoin has formally entered the canon of acceptable collateral at the world’s most systemically important bank. In a TradFi wrapper, of course.
Here are the week’s biggest stories we’re unpacking today:
SG-Forge partners with BCB Group to expand EURCV distribution
SEC declares protocol-level staking not a security
IG launches crypto trading for retail customers
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NEWS FLASH
Tokenization
Clearstream and Azimut launch DLT private funds platform. The goal is to launch a DLT-based private funds solution via FundsDLT, aiming to reduce costs and improve transparency across fund distribution.🪙
Deutsche Bank joins Partior for real-time settlement. Germany’s largest bank will serve as a Euro and USD settlement bank on Partior, a blockchain platform enabling real-time, cross-border settlement of tokenised assets.🏦
Regulation
U.S. lawmakers propose CLARITY Act for crypto framework. House Republicans and Democrats introduced the bipartisan CLARITY Act to bring regulatory clarity to digital assets, building on the FIT 21 bill passed by the House last session.🇺🇸
Singapore to shut down unlicensed offshore crypto firms. MAS has given crypto firms serving offshore clients until 30 June 2025 to get licensed or exit. Licenses will be rare, as MAS warns such firms pose reputational and money laundering risks without local oversight.🇸🇬
Bybit obtains a MiCA license in Austria. The crypto exchange has secured a MiCA license in Austria, allowing it to offer crypto services across all EU member states and the European Economic Area.✅
Investment
Kraken launches prime brokerage for institutions. The crypto exchange has rolled out Kraken Prime, a full-service platform offering institutional clients integrated trading, custody, and financing.🐙
IG partners with Uphold for UK crypto trading. IG Group becomes the first UK-listed investment platform to offer crypto via a partnership with Uphold, initially supporting 13 crypto-assets. More on that below in today’s Proof-of-Talk with Uphold CEO Simon McLoughlin.🇬🇧
STABLECOINS
SG-Forge Partners with BCB to Expand EURCV Stablecoin Distribution
New partner: SG-Forge, the digital asset arm of Societe Generale, has partnered with BCB Markets to distribute its euro-denominated stablecoin, EURCV, to institutional clients. The move gives over 450 institutional players direct access to EURCV through BCB’s infrastructure.
Why it matters: SG-Forge is one of only two banking groups in Europe operating a MiCA-compliant euro stablecoin, alongside Banking Circle. The partnership expands EURCV’s potential reach through one of crypto’s leading fiat settlement networks.
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