Société Générale – FORGE (SG-FORGE), Société Générale's regulated digital asset arm, recently selected Morpho to power lending and borrowing for its MiCA-compliant stablecoins, EURCV and USDCV. Today, after extensive due diligence and risk reviews, Lombard’s LBTC has been accepted as collateral to access EURCV and USDCV loans from the 6th largest bank in Europe.

This collaboration exemplifies how major financial institutions like Société Générale are building onchain capital markets, with Lombard playing a pivotal role in enabling Bitcoin-backed loans in DeFi.

A Compliant Infrastructure for European Stablecoins

SG-FORGE is emerging as a leading distributor of regulated stablecoins in Europe. Operating under the EU’s MiCA framework, its EURCV and USDCV tokens are fully compliant and have surpassed $100 million in combined supply. Their infrastructure is supported by:

• MEV Capital’s Morpho Vaults, enabling lending and borrowing with collateral such as stETH, wETH, LBTC, and tokenized money market funds (USTBL, EUTBL - regulated by the French Financial Markets Authority and invest in US T-Bills and Eurozone T-Bills) issued by Spiko
• Flowdesk, providing market-making and liquidity services
• Uniswap, where EURCV and USDCV are listed for open-market trading

Together, this ecosystem ensures the availability and liquidity of SG-FORGE's stablecoins across DeFi while maintaining compliance with existing banking regulations.

Bitcoin-Backed Loans via Morpho, Curated by MEV Capital

MEV Capital, an investment and risk management firm operating since 2020. MEV Capital operates as a vault curator on Morpho and oversees the deployment of EURCV and USDCV; supervises the select group of eligible digital assets used as collateral; ensures optimal capital allocation; and manages the liquidation flow.

Morpho users can now borrow EURCV and USDCV with LBTC as collateral. At the time of writing, the rate to borrow EURCV offers compelling economics for borrowers, while the supply side yield provides attractive returns for lenders.

Lombard’s LBTC as a Prime Collateral

LBTC's acceptance as collateral represents a significant milestone in LBTC’s integration with stablecoin markets. The approval followed rigorous due diligence and risk reviews conducted by SG-FORGE, which included comprehensive assessments of technical architecture, smart contract and operational security, and market liquidity amongst others.

This institutional validation affirms that properly structured, liquid, and secure Bitcoin-backed assets can meet the standards required to serve as collateral for MiCA-compliant stablecoin borrowing, standards uniquely met by Lombard.

Lombard: Bitcoin Infrastructure for Everyone

Lombard serves as the bridge connecting Bitcoin liquidity to protocols, exchanges, wallets, and now traditional banks. Our infrastructure powers:

• DeFi Integrations: LBTC brings Bitcoin liquidity to leading DeFi protocols, including Morpho, Spark, and Aave, maintaining over 82% utilization across these platforms.
• Exchange Partnerships: Lombard's SDK enables major platforms like Binance and Bybit to integrate native BTC deposits directly into their Web3 and Earn products, providing seamless user experiences.
• Institutional Access: As banks, digital asset platforms, and FinTechs increasingly move onchain, Lombard continues to serve as their trusted Bitcoin infrastructure partner.