This week we were treated to some exciting developments around a new stablecoin for Tezos that will be pegged to the Euro.
: PARIS, FRANCE, Mar 18, 2021 - (ACN Newswire) - The Lugh Company announces the creation of the first French digital asset pegged to the Euro, in partnership with Coinhouse, a leading French player in crypto-asset investments for individuals and professional investors, in a trustworthy environment built with key experts such as Societe Generale.
Imagine being able to have a safe and secure way to mitigate market volatility through a stablecoin and that standard being executed in practice today, not in theory by multi-billion dollar retailers on Tezos.
That’s precisely what we’ve been met with Lugh - the first Euro pegged digital asset to be in use by Groupe Casino
. What’s even more, outside of use as a form of payment in its 11,000 store locations, there will be a loyalty rewards program for its customers. Moreover, Groupe Casino will be forming a consortium for other organizations and retailers to join for the purpose of adopting the Lugh.
Of the entities assisting with the development such as Nomadic Labs and Coinhouse, Societe Generale
will also be providing assistance and expertise. If we recall back, Societe Generale has also selected
Tezos as a candidate for a CBDC project to be in use by the Bank of France. This move only showcases their continued support and interest within Tezos.