• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • Wiki Finance EXPO, Singapore (May 27, 2023)
    • Radical Finance, Hong Kong & Shenzhen (May 29-30, 2023)
    • Money 20/20, Amsterdam (June 6-8, 2023)
    • WFIS, Nigeria (June 6-7, 2023)
    • Crypto Expo Asia, Singapore (June 7-8, 2023)
    • BLOCK3000: Blockchain Battle, Lisbon (July 6-7, 2023)
    • NFT Show Europe, Valencia (July 14-15, 2023)
    • CyFrica, Kenya (July 18-19, 2023)
    • TOKEN2049, Singapore (September 13-14, 2023)
    • Blockchain Expo Europe, Amsterdam (September 26-27, 2023)
    • FinTech Festival Asia, Thailand (September 27-28, 2023)
    • European Blockchain Convention, Barcelona (October 24-26, 2023)
    • Future Tech Event, Oman (November, 2023)
  • Past Events
    • Event Horizon
    • Blockchain Life
    • BlockShow Europe

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies


Join us on Telegram: https://t.me/crypto_reporter
Visit Radical Finance Asia on May 29-30, 2023
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

A European bank for the first time to issue its own cryptocurrency

August 22, 2018 By Vitali Maldashou

Union Bank AG from Liechtenstein is preparing to launch a token that will be pegged to Swiss frank. Bank officials claim the move is unprecedented. 

Liechtenstein-based Union Bank AG is the first licensed financial institution to launch its own digital money, according to company’s statement. First, they will launch a security token that gives investors the right to receive dividends. Cryptocurrency will follow afterwards, its price will trail a fiat currency, Swiss frank. 

“Our goal is to become the world’s first blockchain investment bank and to provide tangible solutions which help drive efficiencies, reduce cost base and open up new revenue opportunities for our customers and intermediaries alike,” said Chairman of the Board of Directors M.H. Dastmaltchi. 

The bank will be collaborating with Verum Capital AG, a Swisss startup, to transfer all its processes onto the blockchain. Both companies will join forces to link the blockchain technology and cryptocurrency with traditional banking services. 

In March, another Liechtenstein bank, Bank Frick, began offering its clients direct investments in digital money. Local users can also store their bitcoins in company’s cold storage. 

Filed Under: General News, News Tagged With: cryptocurrency, news, Union Bank AG

Primary Sidebar

Follow Us

Press Releases

AI chatbot ChatGPT picked RenQ Finance and Tradecurve as future market leaders

June 1, 2023

Could Cosmos Overtake Litecoin? Collateral Network Presale Explodes by Over 40% In Record Time

June 1, 2023

TMS Network (TMSN) Heats Up Crypto Market with Unprecedented 2000% Presale Jump, Far Outpacing Solana (SOL) and Dogecoin (DOGE)

June 1, 2023

Stratospheric: TMS Network (TMSN)’s Gold Standard Upends Cosmos (ATOM) and ApeCoin (APE)

May 31, 2023

ChatGPT Shiba Inu price prediction, Tradecurve predicted to 50x

May 31, 2023

Radical Finance 2023 Asia

Money 20/20

WFIS 2023

NFT Show Europe 2023

CyFrica 2023

Blockchain Expo Europe 2023

Fintech Festival Asia 2023

European Blockchain Convention 2023

Blockchain Expo Global 2023

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2023 Crypto Reporter