Today the company lugh announces the successful launch of its stablecoin “EURL” on the Layer 2 solution Polygon.
The Lugh company launched in March 2021, the EURL, the first French stablecoin backed by the euro, in partnership with Coinhousea leading French player in crypto-asset investments for individuals and professional investors, in an environment of trust built with key experts such as the Societe Generale.
Alban Vendeuvre, COO of Lugh, comments: “The EURL is now deployed on an extremely high-performance network, which makes possible a high throughput of transactions.”
Read also: Lugh becomes first euro stablecoin issuer to achieve PSAN registration
After 18 months of operation on the blockchain Tezos then EthereumLugh continues to affirm his will to be multichain. With some gas fees extremely weak and the EVM compatibility of the Polygon network, this launch should make possible 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 in transition to web3 (Starbucks, Instagram, Adidas, etc.).
Lugh finally reaffirms through this launch his desire to build a โcleanโ euro stablecoin and meets environmental requirements. We are proud to be on Polygon, a carbon neutral blockchain that is actively working to be carbon negative.
From now on, each Lugh customer will be able to buy EURL on Tezos, Ethereum or Polygon according to their preferences.
This text is a press release. Do your own research and only invest the money you can afford to lose.
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