In Liechtenstein, Union Bank AG announced its intention to become the world’s first licensed financial institution to issue its own security tokens and then provided with a currency such as the Swiss franc and the cryptocurrency – Union Bank Payment Coin (UBPC).
“…our fiat-backed Union Bank Payment Coin has the potential to disrupt the approach to international trade and international cross-border transactions. With our initiative, we are investing in the future and becoming the world’s preeminent blockchain investment bank.”
These steps are part of the plan to turn Union Bank into a “universal investment blockchain bank.” Help in transferring all business processes of the bank to the blockchain will be provided by Verum Capital AG.
Recall that last week the joint venture Binance and Liechtenstein Cryptoassets Exchange (LCX) announced the launch of a crypto exchange in Liechtenstein, which will offer users trading in pairs of major currencies to the euro and the Swiss franc.