Is SG-FORGE crypto friendly?
Yes for institutions and crypto firms, no for individuals. SG-FORGE is a stablecoin issuer and custodian, not a retail bank.
CBL Score: 7 of 16
| Criterion | Score | Source |
|---|---|---|
| Accepts exchange transfers | partial (1) | source · checked 8 September 2026 |
| Stablecoin off-ramp | yes (2) | source · checked 8 September 2026 |
| Business accounts for Web3 | partial (1) | source · checked 8 September 2026 secondary source |
| Custody | yes (2) | source · checked 8 September 2026 |
| Staking and yield | no (0) | source · checked 8 September 2026 |
| Card | no (0) | source · checked 8 September 2026 |
| Multiple jurisdictions | partial (1) | source · checked 8 September 2026 |
| Open to retail | no (0) | source · checked 8 September 2026 |
Total 7 of 16. Yes scores 2, partial 1, no 0. A secondary source is press or a third party rather than the bank or its regulator. Unverified means no source could be found; the score stands until one is.
Standing
| Jurisdiction | France |
| Type | Traditional |
| Health tag | Solid Backed by Societe Generale, holds the first French digital-asset licence plus an e-money licence. · checked 26 August 2026 |
| Last verified | 8 September 2026 |
If they close your account
Closure policy: Unknown
Unknown: we found no published closure policy.
| Notice | Not stated on the pages found. SG-FORGE publishes no client account terms; its sitemap of 82 pages and 42 documents was read on 28 September 2026 and none is a client agreement. The current MiCA white papers (EURCV v2.2 of 14 October 2025, USDCV v2.0 of 11 August 2025) are the only documents with a cut-off right: section D.2 lets the issuer blacklist an address at its sole discretion if it suspects illegal activity, with no notice, and section D.1 lets it redeem all tokens on not less than 90 days' notice (Unwind Event). The pre-MiCA white papers of 2023 referred to full terms and conditions on the CoinVertible page that were never published. |
| Reasons given | No policy found |
| Access to funds | Not stated for accounts. For the tokens (sections D.1 and D.2 of both white papers): tokens sent to or received from a blacklisted address can be frozen and the holder may lose the right to redeem them; tokens can also be frozen, and the euros in the segregated account surrendered, on a legal order. Ordinary redemption is requested by email, acknowledged within five business days and paid after KYC, sanctions and Permitted Transferee checks, at the latest on the last business day of the month after the checks clear. On an issuer-initiated unwind holders receive one euro or one dollar per token, subject to the same checks. |
| Appeal | Complaints go first to the commercial representative, then to contact@sgforge.com with client claim in the subject, or by the white paper route to reclamation@sgforge.com. SG-FORGE acknowledges within 10 business days and answers within 60 days (the client-claim page says two months). If unhappy, the client may go to the AMF Ombudsman (Médiateur de l'AMF), free of charge. No internal appeal against a freeze or blacklisting is described. |
| Names crypto as a ground for closure | not stated |
Sources: SG-FORGE legal information page · official, checked 28 September 2026
SG-FORGE client complaint page · official, checked 28 September 2026
EURCV white paper v2.2 (14 October 2025), sections D.1, D.2 and D.6 to D.8 · official, checked 28 September 2026
USDCV white paper v2.0 (11 August 2025), sections D.1, D.2 and D.6 to D.8 · official, checked 28 September 2026
SG-FORGE summary of clients' complaints handling policy, version 2, 15 March 2024 · official, checked 28 September 2026
A closure usually starts as a freeze. The Frozen Account Survival Kit covers the first 48 hours. Every bank side by side: which banks tell you why they closed your account.
What SG-FORGE allows and blocks
Allowed
- Minting EUR CoinVertible (EURCV) and USD CoinVertible (USDCV) 1:1 against fiat, after institutional onboarding with SG-FORGE
- Redeeming EURCV and USDCV at par into euros or dollars, directly with the issuer by email or through a Preferred Partner such as Bitstamp
- Custody and administration of crypto-assets, transfer services and order execution under a French MiCA CASP authorisation
- Buying and holding EURCV and USDCV as an individual through third-party exchanges: Bitstamp, Bullish Europe, Bitvavo and Bitpanda
- Using EURCV and USDCV on Ethereum, Solana, XRP Ledger and Stellar, including on Uniswap and Morpho
- Traditional banking services from Societe Generale for crypto exchanges, brokers and wallet providers, 15 clients as of April 2026
Blocked or restricted
- No direct account or stablecoin subscription for individuals. Retail access is only through exchanges and brokers
- US persons cannot hold EURCV or USDCV and the issuer may refuse to redeem tokens held by anyone who is not a Permitted Transferee
- No staking, yield or lending product from SG-FORGE itself. Yield on the tokens exists only on third-party platforms
- No card of any kind
- Redemption through a Preferred Partner is open to EU residents only, and tokens are frozen while the request is processed
- Holders who fail KYC, AML or sanctions checks may lose the ability to redeem
Opening an account
- Direct clients are institutions and companies: exchanges, market makers, brokers, wallet providers and corporate issuers. A person cannot open a relationship with SG-FORGE.
- Minting requires what the issuer calls a successful onboarding, then a subscription. Fiat is sent to SG-FORGE bank accounts and tokens are minted to the client's address on a 1:1 basis.
- Every holder who redeems goes through KYC, AML, sanctions and Permitted Transferee checks. The issuer confirms a redemption request within five business days and pays out by the last business day of the following month at the latest.
- US persons under Regulation S, the Commodity Exchange Act or Section 15G rules are excluded outright. Sanctioned persons are refused.
- Onboarding time, minimum sizes and document lists are not published. The site offers only a contact form.
Fees that matter
- No mint or redemption fee is published. The MiCA white papers list only network gas fees on Ethereum, Solana, XRPL and Stellar as costs borne by holders.
- In a recovery scenario the issuer may impose liquidity fees, daily redemption limits or a suspension of redemptions.
- Trading spreads and withdrawal fees for EURCV and USDCV depend on the exchange used (Bitstamp, Bullish, Bitvavo, Bitpanda), not on SG-FORGE.
- Fees for custody, transfer and execution services are not published.
Regulatory history
| 2023 | First full DASP (PSAN) licence ever granted by the AMF, in July 2023, covering custody, buying and selling against legal tender and crypto-to-crypto exchange, after DASP registration in September 2022. source |
| 2024 | Licensed as an electronic money institution by the ACPR from 1 July 2024 and EURCV restructured as a MiCA e-money token with whitelisting removed. source |
| 2025 | MiCA CASP authorisation A2025-007 / N2025-003 on 23 October 2025 for custody and administration and for transfer services, extended on 24 February 2026 to execution of orders. source |
See a mistake? Email hi@cryptobanklist.com. Every factual correction is logged on our corrections page.
Questions about SG-FORGE
Can I open an account with SG-FORGE as an individual?
No. SG-FORGE onboards institutional investors such as exchanges, market makers and brokers, plus corporate issuers. An individual can only get its EURCV and USDCV stablecoins through a third-party platform like Bitstamp, Bullish Europe, Bitvavo or Bitpanda.
How do I redeem EURCV or USDCV for cash?
Holders resident in the EEA have a right to redeem at par at any time. You email redemption.coinvertible@sgforge.com, pass KYC, AML and sanctions checks, and the issuer pays your bank account by the last business day of the following month at the latest. EU residents can also redeem through a Preferred Partner such as Bitstamp, which freezes the tokens while the request is processed.
Is SG-FORGE regulated under MiCA?
Yes. It holds an electronic money institution licence from the ACPR since 1 July 2024, which makes EURCV and USDCV MiCA e-money tokens. It also has a MiCA CASP authorisation from 23 October 2025 for custody, transfer services and, since February 2026, order execution. Before that it was the first firm to get a full French PSAN licence, in July 2023.
Does SG-FORGE pay yield or staking rewards on its stablecoins?
Not directly. SG-FORGE has no yield product. The tokens are deployed on Morpho and Uniswap, and Bitpanda lets its retail customers lend them through its DeFi wallet, but that is a third-party service with its own risks.
Closest alternatives
Yes. Monerium is built for moving euros between bank rails and your own wallet, but its terms ban using the IBAN for P2P crypto platforms.10/16BCB Group
Yes for crypto businesses and institutions, no for individuals. BCB is a payments and settlement provider, not a bank.