Union Bank AG, based in Liechtenstein, has announced the release of their own stablein Union Bank Payment Coin (UBPC), tied to the Swiss franc, and investment security-tokens.
Chairman of the Board of Directors of the Bank Mohammad Hans Dastmalchi (Mohammad Hans Dastmaltchi) said that Union Bank has an ambition to get the status of the world’s first blockchain investment Bank that would offer clients real solutions for a range of tasks. The tasks to be carried Dastmalchi increase efficiency, decrease cost base and finding different ways of making a profit. The issue of digital currency — a step towards the establishment of a desirable status.
“Our provided with Fiat money, cryptocurrency UBPC in perspective can change the approach to international trade and cross-border operations,” added the Chairman.
The Bank also cooperates with the consulting company Verum Capital on issues of technology implementation of a distributed registry in a possible workflows.
A week ago, one of the largest cryptocurrency exchanges from Hong Kong Binance together with Liechtenstein Cryptoassets Exchange (LCE) opened in the Principality trading platform with the function of exchange of cryptocurrency for Fiat Swiss franc and the Euro. Customer support, legal compliance and communication with the state will take care of LCE.
Recall that on August 10 the head of the Binance said in his Twitter about a demo version of a new, more secure decentralized platform. And the Hong Kong stock exchange and the Bank of Liechtenstein see high potential in blockchain technology, and we hope that over time, its functionality will be expanded.