Liechtenstein Bank Aims to Become ‘Blockchain Investment Bank’



Liechtenstein bank Union Bank Ag announced it absolutely was issuing its own security tokens and in-house cryptocurrency backed by fiat in a press release Friday, August 17.

Union Bank, that has focused increasingly on blockchain this year, said issuing its so-called “Union Bank Payment Coin (UBPC)” was an additional step towards becoming a “full-service blockchain investment bank.”

UBPC will act as a stable coin, the institution explained, and will have fiat currencies “such as the Swiss franc” as its backing.

“Our goal is to become the world's first blockchain investment bank and to supply tangible solutions which facilitate drive efficiencies, reduce cost base and open up new revenue opportunities for our customers and intermediaries alike,” chairman of the board of directors Mohammed Hans Dastmaltchi commented within the release.

“...As such, our fiat-backed Union Bank Payment Coin has the potential to disrupt the approach to international trade and international cross-border transactions.”

The news came a similar week that major cryptocurrency exchange Binance launched a fiat-to-cryptocurrency exchange in the little European principality catering to both Swiss francs and euros.

Both Binance and Union Bank praised the jurisdiction’s pro-blockchain stance, indicating a desire to see functionality increase in time.

In partnership with Swiss blockchain advisory Verum Capital, Union Bank said it was now trying to introduce blockchain “throughout its processes and supporting technology.”

Komentar

Posting Komentar

Postingan populer dari blog ini

Amid Nth Room Sexual Exploitation Case Rumors,Huobi Korea Delists XMR

Gambar
Huobi Korea announced on April 8 that they might be ending support for Monero (XMR) trading starting on April 9, 2020. They stated that this was thanks to "low trading volumes and anonymity functions". They didn't , however, reference the recent Nth room case, during which South Korean media has speculated the exploitation ring used XMR to finish anonymous transactions. According to the South Korean newspaper, Sisa Journal, headlines covering the sexual exploitation case remained rampant within the country, with many news outlets suggesting that Monero has been used for criminal acts, specifically within the Nth case. The quoted case is an ongoing criminal investigation that allegedly involved sexual exploitation and therefore the distribution of videos containing rapes among Telegram chat rooms. Bithumb still lists XMR in South Korea despite the reports Sisa Journal is additionally reporting that another cryptocurrency exchange, Bithumb, has been struggling for...
Baca selengkapnya

What Is Digital Currency And How It Works?

Gambar
Digital currency, on the flip side, is utilized to specifically refer to the digital currency that's created and stored electronically. Since it is nothing more than intangible data it is more prone to fraud than physical currency in that it is possible to duplicate a unit of currency thereby causing inflation or altering the value of a transaction after it has been made for personal gain. It is an online form of currency that can easily be used over the web as a replacement for the traditionally used physical form of currency such as banknotes and coins. The exchange rate for digital currencies all around the world remains universal also. If you aren't a huge fan of digital currencies, and could be skeptical towards it, the very first question that would probably get into your head is why are you going to use it should you do have a stable currency already you may hold and are sure has actual price. Due to our electronic planet, you can purchase a home from your cellphone, se...
Baca selengkapnya

Tries to Steal Crypto Through Fake Google Chrome Wallet Extensions by Mystery Hacker

Gambar
Harry Denley, director of security at wallet provider MyCrypto, who identified the fake wallet extensions, said in a report Tuesday that Google has so far removed 49 extensions that purported to be well-known crypto wallets from its Chrome Web Store. The fake extensions are basic phishing plays. Posing as legitimate wallets, they leak personal information inputted by users, such as private keys and passwords, to the hacker, who can then drain balances in a matter of seconds. The fakes detected have so far claimed to be wallets such as Ledger, Trezor, Jaxx, Electrum, MyEtherWallet, MetaMask, Exodus, and KeepKey. Test amounts of crypto sent by Denley have not been picked up, suggesting that either the hacker has to manually empty wallets or that they are only interested in comparatively large balances. On the Chrome Web Store, most of these apps had consistently good reviews written typically in simplistic or broken English. On the basis that the admin email appears to be a Rus...
Baca selengkapnya