Union Bank AG from Liechtenstein plans to issue a digital currency, the value of which will be tied to the Swiss franc. According to the spokesmen of the bank, this is the first such case in history.
Union Bank AG is reportedly the first licensed and official bunking institution in the world to launch its own large-scale cryptocurrency. First, the bank’s management is going to distribute security tokens, allowing investors to receive dividends, and then issue its own cryptocurrency, whose rate will be tied to the Swiss franc (CHF).
It is reported that the bank will work with a blockchain start-up from Switzerland Verum Capital AG, which will help translate all banking processes to a distributed register. The companies intend to fully integrate the capabilities of the blockchain and cryptocurrency with traditional banking services.