A stable coin that is pegged to the Euro, will be launched by 120-year-old retail company, known as Groupe Casino.
It is important to mention, that the novel coin was titled after an Irish god and which is called the Lugh, will have EURL as the symbol.
The Stablecoins will be used in stores’ loyalty programs and also for trading. Over 11, 000 stores is supervised by the Groupe Casino, in Latin and French America.
The Tezos protocol in alliance with many firms developed the coin. Some of the firms are accounting firm, Pricewatercoopers, Crypto Exchange, Coinhouse, research and development firm Nomadic labs, Stablecoin Infrastructure provider, Sceme and Societe Generale, which is a financial service group.
The first offering of the coin, will be on coinhouse exclusively, which will be for few months and which will run, until the testing pahse is complete and which it can start running on other platforms.
In relation to Stablecoin, a popular accounting firm, PricewaterhouseCoopers has supported some projects in the crypto industry. For instance, to launch the United States dollar backed stablecoin, the firm partnered with Cred, a decentralized lending platform in the United States.