SocGen's SG-FORGE Onboards 15 Crypto Clients as EU Rules Drive Banks Deeper Into Digital Assets

Gate News message, April 22 — Société Générale’s SG-FORGE unit has signed 15 crypto clients as Europe’s new regulatory framework pushes traditional banks deeper into the digital asset space. The client base includes crypto exchanges, brokers, and wallet providers, according to Jean-Marc Stenger, CEO of SG-FORGE.

Stenger noted that SG-FORGE’s connections with crypto-native companies enable the bank to offer traditional banking services to these businesses. SocGen has already launched a euro-pegged stablecoin in 2023 and a dollar-pegged stablecoin in 2025. Currently, SocGen’s euro stablecoin has just €105 million in circulation, significantly smaller than Tether’s $187 billion and Circle’s USDC at $78.6 billion. SocGen is not part of a consortium of 10 European banks preparing to launch a euro stablecoin later this year, though Stenger confirmed the bank is holding bilateral talks with some consortium members including ING, UniCredit, and BNP Paribas.

Meanwhile, global crypto exchanges are intensifying competition in the perpetual futures market. Several major exchanges are racing to capture market share ahead of expected U.S. regulatory changes, with perpetual futures trading volume reaching $61.7 trillion in 2025, up 29% from 2024. Blockchain-based trading platforms have emerged as major venues for these contracts, attracting significant trading activity from institutional and retail participants.

The broader competition reflects a larger battle over which blockchain infrastructure will support financial activity in the next phase of crypto development, with enterprises and financial institutions weighing decisions between building on public chains, forking existing ones, or launching proprietary networks.