Bitstamp, the European cryptocurrency exchange, has begun trading Societe Generale (GLE’s) EUR Coinvertible (EURCV), Societe Generale (GLE’s) stablecoin in euro (EURCV).

The Ethereum stablecoin, developed by SG Forge’s crypto division in France, was launched in April to allow institutional clients to connect traditional capital markets with digital assets. AXA IM’s asset management arm, AXA, used the stablecoin to purchase tokenized Green Bonds worth 5 million euros on Monday.

The Bitstamp listing in Luxembourg extends the access of a euro-based stablecoin to retail traders. It is also the first time a stablecoin issued from a fully regulated institution has been available on a cryptocurrency trading exchange. The stablecoin industry is dominated by crypto native firms such as Tether (developer of USDT) and Circle with USDC. Both are pegged to U.S. dollars.

The listing of EURCV on Bitstamp is “the next step to building markets beyond the dominance of USD-backed Stablecoins”, Jean Baptiste-Graftieaux said in a press release.

Flowdesk, a French crypto-financial services company, announced on Tuesday that had been appointed by SocGen as a market maker.

Read more: Stablecoin market expands after 18-month downtrend as fresh money flows to crypto

Sheldon Reback is the editor.