PANews reported on April 23 that, according to Reuters, Jean-Marc Stenger, CEO of SG-FORGE, the crypto subsidiary of Société Générale, said the bank is attracting more crypto companies as clients and expects increased use of stablecoins by corporate clients.

Stenger stated that SG-FORGE currently has 15 clients, including crypto exchanges, brokers, and wallet providers. Stenger indicated that with the EU crypto regulations coming into effect last year and the European crypto industry maturing, Société Générale is providing traditional banking services to crypto-native companies through SG-FORGE. Stenger anticipates that crypto companies will need euro-denominated stablecoins to serve their European retail clients and will begin seeking European alternatives to existing players.