Lugh

Lugh launched of a new Euro stablecoin on the Tezos blockchain, with associated bank deposits held by Société Générale and audits from PwC and Maghreb. Other companies involved in the Lugh solution include French Tezos developer Nomadic Labs (which also has a SocGen link) and SCEME, which developed Lugh’s stablecoin platform. Initially, the stablecoin will only be available on the French cryptocurrency exchange Coinhouse. The coin has been presented to the French regulatory authorities and is willing to comply with the current regulatory framework. Lugh’s capital is €10,000. In the future, it is intended as a first step for other blockchain applications that will leverage it, such as the supermarket chain. The tokens EUR-L will be backed one for one by euros held in a Société Générale dedicated account.