Lugh released in March 2021, EURL, the first French stablecoin pegged to the Euro, in partnership with Coinhouse, a leading French player in crypto-assets investments for individuals and professional investors, in a trustworthy environment built with key experts such as Société Générale.
Alban Vendeuvre, COO at Lugh, commented : “EURL is now deployed on an extremely efficient network, which makes high transaction throughput viable.”
After 18 months of operation on the Tezos blockchain and then Ethereum, Lugh continues to assert its desire to be multichain. With extremely low gas fees and EVM compatibility of Polygon network, this launch should unlock new use cases for Lugh such as frictionless payment.
The Polygon ecosystem is one of the largest in DeFi and NFT with over 37,000 Dapps. This deployment therefore allows Lugh to connect with both a large crypto ecosystem but also with traditional players who are transitioning to web3.
Lugh finally reaffirms through this launch its desire to build an environmentally friendly Euro stablecoin. We are proud to be on Polygon, a carbon-neutral blockchain that is actively working to attain the carbon negative status. From now on, every Lugh customer will be able to buy EURL on Tezos, Ethereum or Polygon depending on their technology choice.
Lugh is positioned as the first player to issue stablecoin pegged to the euro in a trustworthy environment. EURL is available to players in the financial and commercial sectors to enable them to create new and innovative use cases for their customers.
Our stablecoin is currently used to facilitate trading on crypto exchanges and for NFTs purchase.
