USD CoinVertible
USDCV
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
USDCV (USD CoinVertible) is a fully regulated, MiCA-compliant fiat-backed stablecoin issued by SG-FORGE (Societe Generale-FORGE). The token demonstrates exceptional institutional backing, with 1:1 reserve assets segregated and custodied by The Bank of New York Mellon, daily collateral reporting, and multiple security audits across Ethereum, Solana, and Soroban by Hacken. However, as an institutional-grade banking instrument, it structurally lacks organic grassroots community engagement, decentralized governance, or open-source smart contract code. Additionally, on-chain adoption remains limited, characterized by a modest ~$12.5M market capitalization, low holder count, and thin secondary market transfer volumes against major incumbents. With no security exploits, depegs, regulatory actions, or red-flag events identified, the overall score reflects its solid institutional security balanced against its early adoption and centralized architecture.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About USD CoinVertible (USDCV)
USD CoinVertible (USDCV) is a regulated, fiat-backed stablecoin pegged 1:1 to the US dollar and issued by SG-FORGE, a specialized subsidiary of Société Générale. Launched in mid-2025 under the European Union's Markets in Crypto-Assets (MiCA) regulatory framework, USDCV operates as an electronic money token deployed on Ethereum and Solana, with multi-chain expansion to networks including XRPL and Stellar. The asset is designed primarily for institutional settlement, liquidity management, and integration into existing financial workflows.
The token utilizes a fully elastic supply model governed by direct 1:1 minting and redemption mechanisms. Its underlying reserve assets are segregated, bankruptcy-remote, and custodied by The Bank of New York Mellon (BNY Mellon). SG-FORGE publishes daily public disclosures detailing the composition of collateral reserves. Security assessments of the smart contracts across Ethereum, Solana, and Soroban architectures have been conducted by cybersecurity auditor Hacken, and the asset has established integrations with interfaces such as MetaMask and 1inch.
As an institutional banking product, USDCV is governed entirely through a centralized structure without decentralized autonomous organization (DAO) mechanisms, community governance forums, or open-source smart contract repositories. The project faces operational and adoption limitations, including restricted institutional onboarding requirements, a modest market capitalization of approximately $12.5 million, a small holder base of roughly 262 addresses, and low on-chain secondary transfer volume amid competition from established stablecoin issuers.