---
title: "USD CoinVertible (USDCV) Stablecoin Analytics"
canonical: "https://pharos.watch/stablecoin/usdcv-societe-generale-forge/"
description: "Build-time stablecoin profile for USD CoinVertible (USDCV). Live price, supply, peg, liquidity, and flow data are served by the Pharos API."
dateModified: "2026-05-15"
---



# USD CoinVertible (USDCV)

**Peg:** US Dollar

**Backing:** Real-World Asset Backed

**Governance:** Centralized (CeFi)

**Status:** active

## Overview

SocGen-FORGE's USDCV is MiCA-regulated bank-issued plumbing with cash at BNY Mellon, institutional {{term:custody}}custody{{/term}}, and the calmest stress reading on the dashboard — distribution still trails the regulatory pedigree. USDCV is what happens when Europe's sixth-largest bank decides to issue a stablecoin: 100% USD cash at BNY Mellon in bankruptcy-remote segregated accounts, an ACPR-regulated EMI license under MiCA, and a DEWS score of 1 — literally the calmest stress reading on the entire Pharos dashboard. The B safety grade at 72 is held back not by risk but by reach: $26M in supply, a single DEX pool with $2.3M TVL, two-chain deployment on Ethereum and Solana, and multi-day settlement through SG-FORGE's issuer portal backed by Deloitte {{term:attestation}}attestations{{/term}}. Only 2 depeg events in its lifetime and a worst negative deviation of just -118 bps make it one of the most stable assets tracked, period. Supply grew 13% month-over-month from $23.3M, suggesting the MiCA framework is starting to drive institutional demand for a product whose on-chain liquidity still hasn't caught up with its regulatory pedigree.

## Collateral

U.S. dollar cash deposits and high-quality liquid assets held 1:1 in segregated accounts at Bank of New York Mellon (BNY), managed by independent fiduciaries and bankruptcy-remote from SG-FORGE; daily public disclosure of reserve composition

## Peg Mechanism

Direct 1:1 redemption through SG-FORGE

## Jurisdiction

| Country | Regulator | License |
| --- | --- | --- |
| France | ACPR | EMI (MiCA) |

## Contracts

| Chain | Address | Decimals |
| --- | --- | --- |
| ethereum | `0x5422374b27757da72d5265cc745ea906e0446634` | 18 |
| solana | `8smindLdDuySY6i2bStQX9o8DVhALCXCMbNxD98unx35` | 2 |

## Live Data

Real-time price, supply, peg score, liquidity, and flow data live at https://api.pharos.watch/api/stablecoin/usdcv-societe-generale-forge.