The Union Investment Service Bank AG from Liechtenstein has announced to introduce its own security token and a stablecoin (the Union Bank Payment Coin). This makes it the world’s first regulated and licensed bank to issue its own security token.
Security Token and Union Bank Payment Coin
Following agreement with the Liechtenstein supervisory authority FMA, Union Investment Service Bank Ag will issue its own security tokens. In addition, a Stablecoin will soon follow: the Union Bank Payment Coin. It is fully supported by a Fiat currency, such as the Swiss franc. It is the world’s first fully licensed and regulated bank to take this step. The country of Liechtenstein is known to have blockchain-friendly legislation.
Union Investment Service Bank Ag is a fully licensed and regulated bank based in Liechtenstein. the bank works mainly for corporate clients from the DACH region and the Middle East. In addition, the Bank supports Initial Coin Offerings (ICOs) and cryptocurrencies. They have partnered with several Crypto brokers and Crypto consultants to help clients transition from cryptocurrency to Fiat currency.
Union Investment Service Bank AG becomes a full-service blockchain investment bank
As a result of the measures announced, Union Investment Service Bank AG will expand its existing services and offerings and position itself as a full-service blockchain investment bank. The benefits of the blockchain will also be fully integrated into the bank’s processes and technologies. Union Investment Service Bank AG will work with Verum Capital AG, a leading blockchain studio based in Switzerland, on this initiative.
MH Dastmaltchi, Chairman of the Board of Union Investment Service Bank Ag, says in a press release :
Our goal is to become the world’s first blockchain investment bank.
The Chairman added:
“ As a fully licensed and regulated bank we are in a privileged position to combine all the advantages of traditional banking with the possibilities inherent in the blockchain technology. As such, 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.”
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Marko Vidrih @cryptomarks
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