Based in Liechtenstein AG Union Bank has announced the imminent launch of its own security tokens.
According to the statement of the Bank, thus it will become the world’s first licensed financial institution that issued the blockchain assets.
It is reported that security tokens will be the first step of the Bank, then the market will be a new stable coin called Union Bank Payment Coin. Stable coin will be fully provided Fiat currency.
“Our goal is to become the world’s first blockchain investment Bank and to propose practical solutions to improve efficiency, reduce costs and create new business opportunities for our customers and partners,” — said the Chairman of the Board of Directors of the Union Bank, AG M. H. Dastmalchi.
Representatives of Union Bank AG also said that the future business processes of the organization will be transferred on the blockchain. To this end, the Bank will work with the Swiss “blockchain boutique” Verum Capital AG.
“Union Bank AG will propose a universal solution that combines the new world of the blockchain and cryptocurrency with the best practices of traditional banking services”, — stated in the message Bank.
Note that in the spring of this year, Bank Frick Liechtenstein became the first country financial institution, which began to offer its clients direct investments in the five leading cryptocurrency.