SG-FORGE signs 15 crypto clients after EU rules kick in

Société Générale’s SG‑FORGE has signed 15 crypto clients, covering exchanges, brokers and wallet providers, as regulated crypto firms in Europe seek access to banking services after the EU’s crypto rules came into force last year. The agreement allows SG‑FORGE to offer conventional corporate banking services to regulated crypto businesses that need on‑ramps to the financial system.

Jean‑Marc Stenger, SG‑FORGE’s chief executive, said the list of clients spans exchanges, brokers and wallet providers. He added that connections with crypto‑native companies are being used to deliver standard banking products to those firms. “More and more we see the connections we have established with crypto‑native companies through Société Générale‑Forge as a good way to deliver just traditional banking services to these entities,” he said.

SG‑FORGE launched a euro‑pegged stablecoin in 2023 and a dollar‑pegged stablecoin in 2025. Both tokens are regulated under the EU crypto framework. The euro token has about €105 million in circulation. That compares with roughly $187 billion in Tether and about $78.6 billion in Circle’s USDC.

Some European banks are working together on shared projects and tests. A separate group of 10 banks, which includes ING, UniCredit and BNP Paribas, is preparing a euro stablecoin for later this year. Société Générale is not part of that consortium but is holding bilateral talks with some of its members. Other lenders continue to wait for clearer customer demand before expanding crypto offerings.

An investment bank survey found that banks viewed stablecoins’ effect on liquidity and treasury management as “negligible.” Market participants are also debating which blockchain infrastructure large institutions will use for future financial activity. VanEck’s chief executive predicted: “I think 2026 … is the year of the corporate chain wars.”

Perpetual futures trading, largely offshore, reached $61.7 trillion in volume in 2025, up 29% from 2024. Global exchanges and trading firms are positioning for potential regulatory changes in the United States that could allow onshore trading of perpetuals. Kraken’s parent agreed to acquire Bitnomial for up to $550 million to enter its perpetual futures business. Coinbase has launched long‑dated contracts designed to resemble perpetuals, and Robinhood has said it is exploring similar products.

SG‑FORGE’s client signings come as regulated crypto firms in Europe seek banking relationships under the continent’s new legal framework. The bank’s token issuance and direct ties with crypto operators are part of how it is providing standard corporate banking services to those clients.