French retail giant Groupe Casino which is a 120-year old company based in the European country will launch a Tezos-backed stablecoin and the new coin will be named after a god in Irish mythology under the ticker symbol EURL so let’s find out more in our latest Tezos news today.
The French retail giant will be launching stablecoin to use in its stores’ loyalty programs as well as for trading while the company oversees more than 11,000 stores in Latin America and France. The coin has been developed using the Tezos protocol in partnership with crypto exchange Coinhouse and the accounting company PricewaterhouseCoopers which is a stablecoin infrastructure provider Scheme, the development company Nomadic Labs and the Financial services group Societe Generale.
The new stablecoin called the Lugh, named after an Irish mythology god will go under the ticker symbol EURL with the initial offering including 500,000 coins available on Coinhouse for a few months until the new test phase is finished and then on other platforms. The Bank of Rance was active in developing the stablecoin pegged to the EUR so the country even completed a pilot program for digital euro issued from the central bank in December.
As for PricewaterhouseCoopers or PwC, it has backed some projects in the crypto space related to stablecoins while there years ago, the company partnered with decentralized lending platform Cred to launch a US-backed stabelcoin. In addition, one of the former partners at PwC said it will be releasing a stablecoin pegged to the New Zealand dollar in 2021.
As recently reported, Wolfram Alpha integrates Tezos into its Computational tool that will help developers work on blockchain-based programs and smart contracts. The addition of TEzos will enable developers to work on blockchain-based programs and smart contracts that are built on Wolfram and to also create reliable oracles. The blockchain is now fully integrated into the computational tool that Wolfram Alpha uses as a result of the partnership between Wolfram Blockchain Labs and TQ Tezos which is a New York-based incubator of the Tezos blockchain according to the press release.
Wolfram Blockchain Labs provides developers and companies with the tools to create smart contracts and other blockchain-based programs and it is a division of the Wolfram Research branch that operates as a search engine that uses advanced mathematics to solve problems in the fields of mathematics and sciences. T
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