A proposal has been submitted to add EUR CoinVertible, or EURCV, to the Aave V4 Core Instance on Ethereum. If approved, the move would bring a euro-denominated stablecoin issued by SG-FORGE, a subsidiary of Societe Generale Group, onto Aave’s main V4 deployment on the network.

The proposal does not set final risk settings yet. Instead, those parameters are expected to be defined later by Aave’s Risk Service Providers and reflected in an updated ARFC configuration.

What the proposal covers

The request is narrowly focused on onboarding EURCV to Aave V4 on Ethereum. The asset named in the proposal is EUR CoinVertible, with the token contract identified as 0x5F7827FDeb7c20b443265Fc2F40845B715385Ff2.

At this stage, the document serves as an initial governance step rather than a final implementation package. The proposal states that the asset’s eventual configuration on Aave V4 will be determined after further review.

Why EURCV is being considered

The motivation outlined in the proposal centers on diversification. Aave contributors argue that adding EURCV would broaden the protocol’s collateral base beyond dollar-linked assets by introducing a euro stablecoin tied to a regulated banking group.

The filing also presents EURCV as a way to increase access to euro-denominated exposure for European and institutional users seeking currency diversification. In that framing, the token would sit alongside existing stablecoin listings as a regulated, non-crypto-native option.

Issuer and regulatory framing

According to the proposal, EURCV is issued by SG-FORGE, formally Societe Generale-FORGE, which is described as a subsidiary of Societe Generale Group. The token is presented as operating under the EU’s Markets in Crypto-Assets framework as an electronic money token.

The same proposal says EURCV is backed by euro reserves on a one-to-one basis and is subject to periodic attestations. Those points are part of the rationale offered for listing the asset on Aave’s V4 Core Instance.

What happens next

No final collateral settings, borrowing limits, or other risk parameters were included in the initial filing. The proposal explicitly says those details will be updated later by Aave’s Risk Service Providers and the ARFC process.

That means the next confirmed step is a risk review and a follow-up configuration update before any final onboarding terms are settled. For now, the governance post establishes the intent to add EURCV to Aave V4 on Ethereum, while leaving the operational settings open pending further assessment.

Source: governance.aave.com