Union Bank of Leichtenstein to Issue Stablecoin

[kreslik.news]

Union Bank AG of Leichenstein is to become the world’s first regulated bank to issue its own crypto-token, according to a press release dated 17 August 2018.

The Union Bank Payment Coin will be a stablecoin pegged to the value of the Swiss franc, and issued in conjunction with the FMA, the country’s financial watchdog.

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“disrupt the approach to international trade”

The bank, which mainly services corporations in German-speaking countries and the Middle East, aims to become a blockchain investment bank, according to chairman M.H. Dastmaltchi. Said he: “…our fiat-backed Union Bank Payment Coin has ... (read more)