Today, the Lugh company announced the successful launch of its stablecoin “EURL” on the Polygon layer 2 scaling solution.
The Lugh company launched in March 2021 the EURL, the first French stablecoin anchored to the euro, in partnership with Coinhouse. The latter is a leading French player in the field of investments in cryptoassets for individuals and professional investors, in a space of trust developed with key experts such as Société Générale.
Alban Vendeuvre, COO of Lugh, said: “ EURL is now established on an extremely efficient network, which makes possible a high throughput of transactions. »
After 18 months on the Tezos and then Ethereum blockchain, Lugh continues to affirm his desire to be multi-chain. With rock-bottom gas fees and Polygon network EVM compatibility, this launch should unlock new use cases for Lugh, like frictionless payment.
The Polygon ecosystem is one of the largest when it comes to DeFi and NFT with over 37,000 DApps. This deployment therefore allows Lugh to connect both to a large crypto ecosystem, but also to traditional players who are transiting to Web3.
Lugh thus reaffirms his desire to build an environmentally friendly euro stablecoin. They are proud to be on Polygon, a carbon neutral blockchain that is actively working to achieve carbon negative status.
Now every customer of lugh will be able to buy EURL on Tezos, Ethereum or Polygon according to their preferences.
Lugh is positioning itself as the first player to issue a euro-pegged stablecoin in a trusted environment. The EURL is available to players in the financial and commercial sectors to enable them to create new and innovative use cases for their customers. Their stablecoin is currently used to facilitate trading on cryptocurrency exchanges and for purchasing NFTs.
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