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.
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 cryptoactiv
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Article authors
Sophie Baqué
Chief Editor of mind Retail
Caroline Soutarson
Head of the “Mind Fintech” section
Cheffe de rubrique Investissement et référente data chez mind Fintech