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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 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.

Marko Vidrih @cryptomarks

Image via Pixabay

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