Lugh is a Celtic deity, inventor of the arts and protector of traders.
It is also now the name of the first digital asset backed by the euro, pushed by Groupe Casino with the support of Société Générale and the audit firm PwC.
Unlike bitcoin, whose price varies according to supply and demand, the value of the lugh is always equivalent to that of a euro, and therefore exchangeable at any time against European currency.
To read also: "Sand dollar", "e-crown" ... States are embarking on the race for cryptocurrencies
What is the point?
“
Initially, the vocation of the lugh is to address institutional or individual investors, who want to escape the volatility of cryptocurrencies.
This opens a more affordable gateway when the market becomes more mainstream
, ”explains Olivier Ou Ramdane, co-founder of the Lugh company, in which Groupe Casino is the majority shareholder.
For each lugh created, one euro is added in return on a reserve account, held by Société Générale, so that the total amount
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