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Over 100 Million Euros Of EURL Trading Volume Has Taken Place Through Coinhouse

Over 100 million Euros of EURL has been traded on Coinhouse in under 6 months. At this point, the stablecoin has only been marketed to Coinhouse customers in Europe.

The Tezos-based stablecoin was launched by Lugh, a Groupe Casino company in partnership with SCEME, Société Générale, PwC and Coinhouse.

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The EURL Stablecoin

The EURL is a French stablecoin backed by the Euro and is built on the Tezos blockchain. XTZ News previously covered the EURL in an article found here.

It was launched by Lugh, a Groupe Casino company in partnership with SCEME, Société Générale, PwC and Coinhouse. It has so far only been marketed to Coinhouse in Europe.

According to a message on LinkedIn from Lugh, over 100 million in transaction volume for the EURL stablecoin has taken place on Coinhouse. Translated:

“A few month after our launch, more than 100 M€ of EURL has already been traded on Coinhouse !“

The news was also confirmed by Coinhouse here.

According to the contract found here on Better Call Dev (which is listed in PWC’s June report for the EURL stablecoin here), it looks as though 7,520,000.00 EURL have been minted and are presently in circulation.

In the June report, 8,020,000.00 were in circulation, representing € 8,020,000.00, domiciled at Société Générale. 

Disclaimer

Nature of Content: All content published on https://xtz.news, whether written, auditory, or visual, is for informational purposes only. Opinions expressed therein are solely those of the individual authors and do not reflect the views of XTZNews or its management.

Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.

Accuracy and Completeness: While XTZNews makes every effort to ensure the accuracy and reliability of information, we do not warrant or guarantee the timeliness, completeness, or accuracy of the information presented. The website may contain errors, omissions, or inaccuracies. We disclaim all warranties, both express and implied, regarding the information, including but not limited to, any warranty of merchantability or fitness for a particular purpose.

Endorsements: References to specific entities, products, services, processes, or other information does not constitute or imply endorsement, sponsorship, or recommendation by XTZNews. Blockchain technology is in a developmental phase, and the engagement with the technology and its associated entities carries inherent risks.

User’s Responsibility: Users are encouraged to conduct their own research and due diligence and to seek the advice of qualified professionals before making any investment or decisions related to content on this site. Engaging with blockchain technology, cryptocurrencies, and associated applications should be undertaken with caution, understanding the inherent risks involved.

Limitation of Liability: Under no circumstances will XTZNews or its affiliates, partners, officers, directors, employees, shareholders, agents, or licensors be liable for any direct, indirect, incidental, special, consequential, or punitive damages, including without limitation, loss of profits, data, use, goodwill, or other intangible losses, resulting from (i) your access to or use of or inability to access or use the site; (ii) any content obtained from the site; or (iii) unauthorized access, use, or alteration of your transmissions or content, whether based on warranty, contract, tort (including negligence), or any other legal theory, whether or not we have been informed of the possibility of such damage, and even if a remedy set forth herein is found to have failed its essential purpose.

Seek Independent Advice: Before undertaking any financial investments, potential investors are advised to seek guidance from independent financial, legal, and tax professionals.

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