Cassie Craddock, Ripple’s Managing Director for the UK and Europe, has confirmed the issuance of a Euro-backed stablecoin on the XRP Ledger.

The Ripple Europe MD made the announcement during a panel session at Paris Blockchain Week 2025. Notably, Société Générale’s digital asset subsidiary, SocGen Forge, will lead the initiative.

In her commentary, Craddock highlighted Ripple’s growing influence in the European digital asset space. She noted that the stablecoin initiative reflects a broader trend of institutional adoption across Europe. This trend accelerated following the clarity provided by the EU’s Markets in Crypto-Assets (MiCA) regulation.

Ripple’s collaboration with SocGen Forge began with custody solutions but has since expanded to stablecoin issuance. Craddock noted, “We partnered with SocGen Forge initially around custody, and now more broadly on issuing their Euro-CV stablecoin on the XRP Ledger.”

This move sets the XRP Ledger up as a serious infrastructure provider in the regulated stablecoin arena alongside Ethereum and other enterprise-focused blockchains. The launch of RLUSD, Ripple’s stablecoin, on the XRPL also contributes to the network’s growing prominence in the stablecoin scene.

Bank-Grade Infrastructure for the Future of Finance

Furthermore, Ripple continues to build an end-to-end digital asset infrastructure, supporting everything from payments and custody to tokenization. According to Craddock, Ripple is not only solving cross-border liquidity problems but is also laying the groundwork for broader use cases in tokenized finance.

She stressed that acquiring custody technology in 2023 was critical for Ripple because custody is the entry point to everything in digital assets, whether for tokenization, payments, NFTs, or anything else. “You need to get your custody right, and it needs to be bank-grade,” Craddock said.

Additionally, Craddock noted that this critical piece of infrastructure is now enabling the company to partner with banks and financial institutions so they can tokenize assets and create use cases—even if Ripple doesn’t directly engage in those areas—by using its technology.

Craddock also credited the MiCA regulation for enabling institutions to “lean into the blockchain and digital asset space” with confidence. As a result, Ripple is seeing increasing demand for tokenizing money market funds and other financial products across the region.

Early Signs Things Are Falling into Place

Ultimately, Craddock noted that Ripple is creating ecosystems where developers and institutions can push boundaries and power the future of financial services. She added that a strong user experience depends on robust infrastructure—wallets, custodians, and compliance tools.

“We’re seeing early signs that these components are in place, but there’s still quite a journey ahead to truly bring this to a global scale,” she concluded.