RATE Group | This European Bank is launching its own cryptocurrency
39705
wp-singular,post-template-default,single,single-post,postid-39705,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

This European Bank is launching its own cryptocurrency

23 Aug This European Bank is launching its own cryptocurrency

Posted at 02:08h in Cryptocurrency News by

[ad_1]

The first licensed bank to launch its own cryptocurrency is the European Union Bank AG. Based in Liechtenstein, the bank is setting out to disrupt how financial institutions think of altcoins, as it will be launching its very own digital currency.

As reported by AMB Crypto, the Bank commented on their decision to launch a cryptocurrency amidst booming speculation on how banks and other financial institutions should treat altcoins:

” ….a transformative Crypto Currency and Blockchain initiative: the fully licensed bank in Liechtenstein will be the first ever to issue its own security tokens, closely followed by a fiat-backed Union Bank Payment coin.”

The coin will be named by the name of the Bank, essentially Union Bank Payment Coin. The value of the cryptocurrency will be backed up by fiat money.

Union Bank seems to be an “all crypto” financial institution, since it has backed up different ICOs and is already planning to be a blockchain investment bank.

Servicing customers…

[ad_2]

Source link

Tags:
, , ,