Societe Generale Joins the Stablecoin Gold Rush—Because Banks Love a Bandwagon

Another day, another legacy bank scrambling to catch the crypto wave. France’s Societe Generale just announced plans to launch a USD-backed stablecoin—because nothing says ''innovation'' like replicating Tether with a fancy logo.

Why the sudden stablecoin obsession? Institutions are finally waking up to what crypto natives knew years ago: programmable money moves faster than bureaucratic wire transfers. Plus, it’s easier to monetize than admitting blockchain might actually disrupt their business models.

The real kicker? Watch these banks pitch ''regulated stablecoins'' as revolutionary while quietly praying regulators don’t ask too many questions about reserve audits. Stay tuned for the next episode of TradFi Cosplaying DeFi.

Why Are Stablecoins in Trend?

The timing of this launch coincides with heightened global interest in stablecoins, driven in part by evolving regulatory landscapes. In the United States, ongoing discussions around a stablecoin bill (GENIUS Act) in Congress are influencing international institutions to explore this asset class. 

While no comprehensive legislation has been enacted yet, the U.S. Senate’s recent deliberations highlight that the country could soon have a potential regulatory framework that could spur stablecoin adoption. 

Industry experts note that stablecoins account for nearly 90% of crypto trading volume despite representing just 7% dominance in the crypto market capitalization. This liquidity-driving attribution, combined with regulatory advancements, positions stablecoins as a “killer app” for bridging traditional and digital finance. 

As global institutions like Societe Generale lead the charge, the stablecoin market is heating up, and it is poised to reshape blockchain-based cross-border and retail payments in the years ahead. 

Also read: US Senate to Vote on GENIUS Stablecoin Bill This Wednesday