Pierre Fougeat, Lugh (Casino Group): “All platforms combined, €2.5 million of our stablecoin Lugh are in circulation”

Featured image of the article Pierre Fougeat, Lugh (Casino Group): “All platforms combined, €2.5 million of our stablecoin Lugh are in circulation”

An article by Sophie Baqué and Caroline Soutarson

Publication

22 September 2023 à 18h33

Updated on 25 September 2023 à 13h06

Reading time

5 minutes

Publication: 22 September 2023 à 18h33, Updated on 25 September 2023 à 13h06

Reading time: 5 minutes

Pierre Fougeat, COO of Lugh Financial Services, a subsidiary of Casino Group, presents the Euro stablecoin Lugh. He details the strategy behind this new business.

An article by Sophie Baqué and Caroline Soutarson

Publication

22 September 2023 à 18h33

Updated on 25 September 2023 à 13h06

Reading time

5 minutes

Publication: 22 September 2023 à 18h33, Updated on 25 September 2023 à 13h06

Reading time: 5 minutes

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Could you tell us about the Lugh stablecoin?

The Lugh is a Euro stablecoin (EURL) project launched in March 2021, initially driven by the Casino Group, where I was working at that time in strategic management. Société Générale is our trusted banking partner, with whom we place €1 for every EURL token issued on the blockchain. One of the Big Four audit company audits our reserves every month and produces a parity report certifying that Lugh has at least as many Euros as there are EURL...

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Article authors

Featured image of the article Sophie Baqué

Sophie Baqué

Featured image of the article Sophie Baqué

Featured image of the article Caroline Soutarson

Caroline Soutarson Head of the “Mind Fintech” section

Featured image of the article Caroline Soutarson

Cheffe de rubrique Investissement et référente data chez mind Fintech

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