Introduction
Bitcoin or Ethereum can lose 30% in a week. Hard to imagine using that to pay for coffee. To solve this, stablecoins were created: cryptos always worth about 1 dollar (or 1 euro). Deblock uses EURCV by Société Générale FORGE — a euro stablecoin — to power its 4% fixed yield on the current account. Understanding stablecoins means understanding half of crypto's real-world use today.
What is a stablecoin?
A stablecoin is a cryptocurrency whose value is intentionally pegged to a classical currency (most often USD or EUR). 1 USDC = 1 dollar, always. It's guaranteed by the issuer, who commits to redeem your USDC for a real dollar at any time.
Concretely: you can hold dollars on the blockchain, transferable instantly anywhere, 24/7, without depending on banks. That's the magic of stablecoins.
The 3 stablecoins to know
USDC (USD Coin) is issued by Circle, a regulated US company. Reserves are audited monthly. It's the reference stablecoin internationally for those who want reliability.
USDT (Tether) is the oldest and most globally used by volume. Issued by Tether. Historically had transparency questions, but the market broadly trusts it.
EURCV (EUR CoinVertible) is the euro stablecoin issued by Société Générale FORGE, the crypto arm of Société Générale, licensed under MiCA. It's the asset Deblock uses behind the scenes to generate its 4% fixed yield on the current account.
- USDC = stable, regulated, audited. The most-used dollar stablecoin.
- USDT = the most liquid worldwide, but less transparent.
- EURCV (SG FORGE) = euro stablecoin, used by Deblock for the 4% yield on the current account.
Why they're useful in practice
Stablecoins are used for far more than you'd expect. You can send 1,000 USDC to a freelancer in Brazil in 30 seconds, for €0.01 in fees. You can move your savings into USDC to protect them from a local crisis (Argentina or Turkey, for example). You can earn yield (Deblock's 4% in EURCV) without volatility risk.
For users in the eurozone it's less critical day-to-day — the euro is stable. But it remains an incredible tool to move money fast, earn yield, or store stable value without going through a bank.
Did you know?
More than 300 billion dollars circulate in stablecoins in 2026. If it were a currency, it would be the 50th most used in the world. Visa and Mastercard are integrating them into their networks.
Stablecoins are just fake crypto money.
Actually : Each USDC is backed by a real dollar audited every month at Circle. The reserves are public and verifiable. It's literally the digital version of the dollar, not Monopoly money.
Enjoy the 4% yield on your Deblock account
You can switch on the fixed 4% annual yield on your Deblock current account in a few clicks. No lock-in, withdraw anytime, transparent on fees. Deblock handles everything behind the scenes via Société Générale FORGE's EURCV.
Activate 4% on DeblockThe risks
Main risk: 'de-pegging' — the price drifting from 1 dollar. Can happen if issuer reserves are insufficient or in panic conditions. In March 2023, USDC briefly lost its peg (down to 0.87$) due to SVB exposure. Restored within days, but stressful.
Regulatory risk: Europe (MiCA) and the US impose strict rules. This boosts safety but can limit certain coins (USDT is being delisted from several European platforms for compliance reasons).
- De-pegging risk (temporary loss of the parity).
- Regulatory risk: a stablecoin can be pulled from the market.
- Issuer risk: what happens if Circle or Tether go down?
Stablecoin or digital euro: what's the difference?
People often mix the two, but they're different things. A stablecoin like EURCV or USDC is issued by a private company (Société Générale FORGE, Circle…) and already exists today. The digital euro, by contrast, would be issued directly by the European Central Bank (ECB): not a new currency, but a digital form of the euro, alongside coins and banknotes.
The real difference is risk. The digital euro would be a claim on the ECB itself: no issuer risk, like a banknote. A stablecoin depends on the strength and transparency of its private issuer's reserves — which is exactly the point of the MiCA framework, requiring segregated, audited reserves in Europe.
Where does the digital euro stand? Still in preparation. If the European legal framework is adopted in 2026, a pilot phase is planned for the second half of 2027, and a first issuance wouldn't arrive before 2029. To avoid a flight of bank deposits to the ECB, holdings would be capped (discussions point to an order of magnitude around €3,000 per person, not yet finalised).
- Issuer: the ECB (public) for the digital euro, a private company for a stablecoin.
- Risk: near zero (a claim on the ECB) versus dependent on the issuer's reserves.
- Availability: not before ~2029 for the digital euro, usable today for a stablecoin.
- Most likely scenario: not 'either/or' but coexistence.
The digital euro will replace stablecoins (or ban crypto).
Actually : They're complementary tools. The digital euro targets everyday public payments; MiCA-regulated stablecoins remain the tools of DeFi, international payments and yield (like Deblock's 4% in EURCV). Europe is also pushing the digital euro for sovereignty reasons: over 90% of stablecoins are pegged to the dollar.
What you should remember
- 01A stablecoin = crypto always worth ~1 USD or ~1 EUR.
- 02Digital euro (ECB, public, not before ~2029) and stablecoin (private, already here) aren't rivals: they should coexist.
- 03EURCV (Société Générale FORGE) is the euro stablecoin used by Deblock for its 4% yield on the current account.
- 04Use cases: fast transfers, stable yield, value storage outside banks.
- 05Main risk: temporary de-pegging and exposure to the issuer.
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