Union Bank Of Liechtenstein Has Launched Its Own Cryptocurrency
The Union Bank of Liechtenstein – Union Bank AG will become the first fully licensed and regulated bank in the world that will issue its own Union Bank coins in accordance with the requirements of the FMA regulatory body of Liechtenstein.
As noted in the message of the bank, this is a stable coin, which will be fully supported by the Swiss franc.
Union Bank AG offers corporate banking services primarily to companies in Germany, Switzerland and Austria and the Middle East. The bank already supports ICO and clients, cooperating with crypto-brokers, crypto-consultants and blockchain-companies.
These are the first steps towards the creation of an investment bank with a full range of services. Union Bank AG plans to transfer all its processes to the blockchain. To do this, he will work with a startup from Switzerland Verum Capital AG.
Within the framework of this cooperation, the companies jointly integrate traditional banking services, blockchain technology and cryptocurrency.
Thus, the coin of Union Bank with the possibility of support can change the approach to international trade and cross-border transactions. With this initiative, the Bank invests in the future and becomes an outstanding investment blockchain Bank.