The Liechtenstein Union Bank has declared its readiness to develop and bring to market their own cryptocurrency. The digital asset is provided with Fiat money, the press service of the credit institution. We are talking about seblaine backed Swiss franc.

The Bank believes that a stable exchange rate of coins under the name Union Bank Payment Coin will make them demanded in the market. To use tokens will be available to all clients and partners of the credit institution.

The Chairman of the Board of Directors of the Union Bank Mohammad Hans Dastmalchi said:

Our goal is to create the world’s first blockchain investment Bank and to introduce a solution that will help to improve efficiency, reduce costs and open towards our customers and partners new opportunities to generate revenue.

In a press release, Union Bank calls itself the first “licensed and regulated by the Bank”, which will release its own investment tokens in accordance with the rules of the local regulator.

Liechtenstein is included in the list of European countries, with a particular interest in digital currencies and blockchain. Support for these areas of the economy by the authorities of the dwarf States convinced the Binance largest crypto currency exchange to launch trading platform for European investors in partnership with the Liechtenstein exchange LCX.