TL;DR: SG-FORGE, Société Générale’s regulated digital asset arm, has selected Morpho to power lending and borrowing for its MiCA-compliant stablecoins, EURCV & USDCV.

This is the beginning of an inevitable shift: banks are coming onchain, and Morpho will be their universal backend.

• Stablecoins on DeFi rails. SG-FORGE has deployed EURCV and USDCV across DeFi, including lending and borrowing powered by Morpho.
• Institutional-grade lending on Morpho. Morpho Vaults curated by MEV Capital enable lending and borrowing in EURCV and USDCV, collateralized by a range of crypto assets such as ETH and BTC, as well as tokenized money market fund shares USTBL and EUTBL issued by Spiko.
• Day-one liquidity. Flowdesk acts as market maker for EURCV and USDCV, while Uniswap lists the assets to support liquidity depth and discoverability.
• A dual ambition. SG-FORGE delivers DeFi-powered innovation that ensures the availability and liquidity of its stablecoins across DeFi, while complying with existing banking regulations.

DeFi provides 24/7 access and global reach for lenders and borrowers. By moving parts of Société Générale’s loan book onchain, SG-FORGE can:

• Reach previously inaccessible customers and markets. DeFi’s open architecture gives Société Générale access to users and liquidity from an ever-expanding ecosystem of wallets, exchanges, fintechs, and institutions.
• Offer better pricing and instant liquidity. Competitive, open lending markets help both lenders and borrowers find the best price.
• Maintain institutional-grade compliance and controls. DeFi infrastructure is open and permissionless; Société Générale can enable lending and borrowing for its stablecoins while maintaining counterparty risk controls.

Decentralized lending extends institutional loan books rather than cannibalizing them—turning local balance sheets into global ones.

In practice, that means:

A business in Eastern Europe can access credit from a French bank instantly; a saver in Paris can fund borrowers in Asia and earn yield; a company can tap worldwide liquidity without waiting days for a wire.

– Merlin Egalité, Cofounder of Morpho.

Morpho is an open lending network that offers:

• Institutional-grade, sustainable yield. With MEV Capital curating the EURCV and USDCV vaults, asset curations are fully open and auditable onchain. Morpho Vaults are noncustodial by design, allowing lenders to earn risk-optimized yield backed by sustainable demand from DeFi-native borrowers, as well as retail users from leading fintechs and exchanges via DeFi Mullet integrations (e.g., Coinbase crypto-backed loans).
• Plug-and-play access to global liquidity. Exchanges, wallets, fintechs, and now banks can integrate Morpho to provide lenders and borrowers with the best available terms. Banks like SG-FORGE can originate, manage, and scale onchain loan books while leveraging Morpho’s global liquidity from integrations with Coinbase, Gemini, Crypto.com, Ledger, Trust Wallet, and more.

Morpho is becoming the universal backend of global finance. SG-FORGE’s integration with Morpho signals to regulated banks building onchain that a regulated institution can build on open financial infrastructure to serve more customers, more efficiently, around the globe.

As more banks and fintechs come onchain, Morpho will continue to be the institutional-grade universal backend, so that everyone—from a retail investor to a multinational’s treasury—can access global liquidity at the best possible terms, anywhere and anytime.