Close Menu
AlexaBlockchain
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
Facebook X (Twitter) Instagram
Friday, May 30
  • Advertise
  • Crypto PR
  • Partner
  • Submit Press Release
  • Contact Us
X (Twitter) Facebook LinkedIn Instagram
AlexaBlockchain
Banner
  • News
  • Press Releases
    • Submit Press Release
  • Adoption
  • Funding
  • Interview
  • Policy
  • Explained
    • Bitcoin Halving 2024: Will it Trigger the Next Bull Run?
    • Everything You Wanted to Know About Bitcoin But Were Too Afraid To Ask
    • Cryptocurrency: what makes it so popular?
    • Top Five Crypto Scams And How To Avoid Them
    • Cloud Mining Explained
    • What are NFTs?
    • What is a Web3 Browser?
    • How To Build High Quality Crypto Backlinks
  • About
  • Advertise
  • Trending
    • #BitcoinHalving
    • #CloudMining
    • #Web3.0
    • #Metaverse
    • #NFTs
    • #PlayToEarn
    • #DeFi
    • #BlockchainTechnology
    • #Bitcoin
    • #Cryptocurrency
    • #DigitalAssets
AlexaBlockchain
You are at:Home » Groupe Casino to Launch Euro Stablecoin ‘Lugh’ on Tezos
Guest Column

Groupe Casino to Launch Euro Stablecoin ‘Lugh’ on Tezos

The stablecoin ‘Lugh’ will have the ticker symbol $EURL and it will be the first French stablecoin backed by the Euro.
Lee EvansBy Lee EvansMarch 17, 2021Updated:November 12, 2021No Comments2 Mins Read
Twitter Facebook LinkedIn Reddit Email WhatsApp
Groupe-Casino-to-Launch-Euro-Stablecoin-Lugh-on-Tezos-AlexaBlockchain
Groupe Casino to Launch Euro Stablecoin 'Lugh' on Tezos
Share
Twitter Facebook LinkedIn Pinterest Reddit Telegram Email WhatsApp

Groupe Casino, a French mass-market retail group, is launching its Euro stablecoin, Lugh (EURL) on Tezos. The retail major has collaborated with Coinhouse, Nomadic Labs, PwC, Sceme and Société Générale on the project.

Groupe Casino

Groupe Casino is a French ‘mass-market’ retail group with over 220,000 employees worldwide; 11,000 stores and had revenue of €31.912 billion in FY 2020.

They operate stores across continents and in France Groupe Casino operate the following brands:

Géant Casino (hypermarkets), Casino Supermarkets, Monoprix, Franprix, Leader Price, Spar, Vival, Le Petit Casino and Casino Restauration.

The Groupe Casino Stablecoin & Tezos

Groupe Casino is introducing a stablecoin built on Tezos, it will first be reserved for cryptocurrency investors, but gradually it will become a means of payment and a global loyalty program in partner brands.

The stablecoin will be named ‘Lugh’, and will have the ticker symbol $EURL. It will be the first French stablecoin backed by the Euro.

It was further stated that Lugh will be distributed in temporary exclusivity by Coinhouse. This exclusivity will remain in place until the issuance of a first 500,000 EUR-L has been completed. You can find the Coinhouse page for the EUR-L stablecoin here.

One of the unique things about this project is that the ambition is said to go beyond a simple trading tool and it is stated:

“Within 12 to 24 months Lugh will become a means of payment and loyalty in stores. It will replace the loyalty points and we can spend them in all the brands that have chosen to join the consortium”

It is further mentioned that:

“The Lugh project is currently managed by @Groupe_Casino but the shareholding should open up as other major B2C players join the adventure”.

The stablecoin marks a first in that it is:

“…also the 1st time that the reserve of a stablecoin (all fiat currencies combined) has been audited by a “Big Four” firm (Deloitte, EY, KPMG, PwC)”

On the EUR-L website it also mentions that the reserve for the stablecoin is ‘stored by Société Générale and audited every month’.

Source: XTZ News
View source version on xtz.news
News URL: https://xtz.news/latest-tezos-news/groupe-casino-with-11000-stores-to-launch-a-stablecoin-on-tezos/

France Groupe Casino Guest Article Lugh Lugh (EURL) Stablecoin Tezos Tezos (XTZ) Tezos Blockchain
Share. Twitter Facebook LinkedIn Reddit Pinterest Tumblr Telegram Email WhatsApp
Lee Evans
  • Website
  • LinkedIn

Lee was the Founder of TokenCrunch, a Tezos focused news website dedicated to the tokenized asset markets, which he left in late 2020 to help start XTZ News with 3 other co-founders from different parts of the world. He has a Masters in Digital Marketing and has had a keen interest in the cryptocurrency space since 2015.

More AlexaBlockchain

QFSCOIN Launches Affordable Cloud Mining Contracts to Democratize Bitcoin Access

May 30, 2025

Liquidium Launches Cross-Chain Bitcoin Lending Without Wrapped Tokens or Bridges

May 28, 2025

Sony’s Soneium Brings Viral Telegram Game Sleepagotchi to 200M Users via LINE

May 27, 2025

Taurus, Parfin to Build Institutional Digital Asset Infra Across Europe and LatAm

May 27, 2025

WalletConnect Launches WCT on Solana with 5M Airdrop, Goes Multichain via Wormhole

May 23, 2025

Sir Patrick Stewart, DeLorean Team Up Ahead of Its On-chain EV Marketplace Launch

May 22, 2025
Add A Comment

Comments are closed.

Don't Miss

QFSCOIN Launches Affordable Cloud Mining Contracts to Democratize Bitcoin Access

Liquidium Launches Cross-Chain Bitcoin Lending Without Wrapped Tokens or Bridges

Katana Launches High-Yield DeFi Blockchain Backed by GSR and Polygon Labs

Sony’s Soneium Brings Viral Telegram Game Sleepagotchi to 200M Users via LINE

Trending Topics
  • Blockchain News
  • Blockchain Technology
  • Blockchain Platforms
  • Blockchain Regulation
  • Bitcoin News
  • Ethereum News
  • Ripple News
  • Tezos News
  • CBDC
  • NFTs
Featured Companies
  • Binance
  • Tech Mahindra
  • Huobi
  • Efforce
  • Future FinTech Group
  • SuburbanColors
  • Launchpool Labs
  • Lucky Crab Club
  • SIMBA Chain
  • Bulldog Law
Stay Updated
  • Events
  • Newsletters
  • Follow
  • Follow on Google News
  • Blockchain Directory
Get In Touch
  • Crypto PR
  • Advertise
  • Partner
  • About
  • Masthead
  • Careers
  • Write for Us
  • Submit Press Release
  • Submit Guest Post
  • Contact US
Copyright © 2025. AlexaBlockchain
  • About
  • Advertise
  • Crypto PR
  • Submit Press Release
  • Write for Us
  • Careers
  • Privacy Policy
  • Affiliate Disclosure
  • Disclaimer
  • Contact

Type above and press Enter to search. Press Esc to cancel.