The new euro-backed stablecoin issued by French bank Societe Generale-Forge (SGF), called EUR CoinVertible (EURCV) and built on Ethereum, has faced criticism due to restrictions on peer-to-peer transactions. The stablecoin is designed exclusively for qualified institutional clients, but cryptocurrency experts have expressed dissatisfaction with the smart contract code and its centralized nature.

According to experts, for successful integration of traditional and digital assets, financial institutions should strive to adhere to the principles of decentralization and transparency. In light of the criticism, it is expected that SGF and other financial organizations will continue to improve their technological solutions and develop new and improved stablecoins and other cryptocurrency products that meet market requirements and expectations.