Bullish has announced that is has been chosen by Societe Generale to be the first to provide access to FORGE’s stablecoin $USDCV, and showed its investment into stablecoin protocol USD.AI.
The public trading company revealed that its European arm, as regulated under the EU’s MICA framework, will be able to offer a stablecoin issued by Societe Generale’s FORGE group, called $USDCV after it was allowed to do the same for €EURCV in the summer.
Reacting to the news, CEO of Bullish Europe Marco Bodewein expressed:
We are proud to be the first to offer USDCV and to increase the availability and range of regulated stablecoins for our institutional investors. This offering further highlights Bullish’s position as a leading venue for institutional-grade liquidity and compliant digital asset trading services.
Bullish recently successfully conducted its IPO on the NYSE (New York Stock Exchange) with the ticker BLSH earlier in August, opening at $89 a share and now sitting at $69.
The trading platform also has invested $22M in another stablecoin project, USD.ai.
Praising the investment from Bullish, CEO of USD.AI David Choi stated:
Scaling AI infrastructure requires fast, reliable, and transparent access to capital. USD.AI enables operators to access capital more efficiently while giving investors direct exposure to sustainable, real-world yield. Bullish’s investment accelerates our ability to financially support and address the next wave of AI demand.”
The yield-bearing stablecoin issuer focuses on a more niche area of stablecoin liquidity with $sUSDai, working to fund AI companies who utilize GPUs.
Its thesis is that inference and compute will continue to rise and is positioning as the bridge between AI and DeFi.
