The French superstore/distribution group Casino has launched its own crypto project, Lugh (EUR-L), on Wednesday in tandem with Societe Generale and Price Waterhouse-Coopers. Casino looks to this project as the first in several opportunities to create new and innovative means of payment and loyalty programs in the future.
This is the first French digital asset pegged to the Euro.
Lugh (EUR-L) will first be made available on the Coinhouse platform to facilitate crypto asset trading for individual or professional investors. In this manner, they seek to hedge against the risk of volatility on such markets. The Lugh Company further aims to develop new financial services based on blockchain technology.
Lugh has been presented to the French regulatory authorities and have demonstrated that they are willing to comply with the current regulatory framework.
On the tech end, the Lugh Company will rely on Nomadic Labs, a French specialist of the Tezos blockchain technology, on which will the Lugh (EUR-L) will be issued.
(I'll avoid saying "Ooh, la la", since (1) I know it's cheesy and (2) I don't think anyone ever actually says "ooh, la la." )
More in English, here, and in French, here: https://www.lesechos.fr/finance-marches/banque-assurances/casino-veut-ouvrir-la-voie-au-paiement-en-magasin-par-crypto-1299200
