Cassie Craddock, Ripple’s Managing Director for the UK and Europe, has confirmed that a Euro-backed stablecoin will be launched on the XRP Ledger.
She made this announcement during Paris Blockchain Week 2025. The stablecoin will be issued by SocGen Forge, a digital asset division of the major French bank Société Générale.
Ripple and SocGen Forge first worked together on custody solutions—how digital assets are securely stored. Now, they’re expanding into stablecoin creation.
Craddock said, “We partnered with SocGen Forge initially around custody, and now more broadly on issuing their Euro-CV stablecoin on the XRP Ledger.”
This is a significant move for Ripple, putting the XRP Ledger (XRPL) in a strong position next to other blockchain platforms like Ethereum when it comes to regulated stablecoins. It also follows the earlier launch of Ripple’s own stablecoin RLUSD, strengthening XRPL’s role in the global financial system.
Ripple is building a full financial infrastructure using blockchain, offering tools for payments, asset custody, and tokenization. Craddock explained that custody solutions are the “gateway” to everything else in digital assets. “You need to get your custody right, and it needs to be bank-grade,” she emphasized.
That’s why Ripple acquired custody technology in 2023—to support banks and institutions looking to tokenize assets such as money market funds.
Craddock also highlighted that the MiCA regulation in the EU is encouraging more institutions to explore crypto. The rules give companies the confidence to operate legally and securely in the blockchain space.
“MiCA is helping institutions lean into the blockchain and digital asset space with confidence,” she said. As a result, Ripple is seeing growing demand for its services from banks and traditional finance players.
Ripple believes that with the right tools and clear regulations, Europe can become a global leader in digital finance—and Ripple wants to help power that transformation.
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