Bitcoin Forum
September 25, 2018, 04:25:04 AM *
News: ♦♦ New info! Bitcoin Core users absolutely must upgrade to previously-announced 0.16.3 [Torrent]. All Bitcoin users should temporarily trust confirmations slightly less. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: [2018-08-24] Liechtenstein Bank to Launch Its Own Crypto Backed by the Swiss Fra  (Read 78 times)
moriskarlov
Sr. Member
****
Offline Offline

Activity: 532
Merit: 252


WeiDex - TURN YOUR WEI INTO ETHERS


View Profile
August 24, 2018, 05:54:48 AM
 #1

Union Bank AG, a bank in Liechtenstein that offers corporate banking services mainly to companies based in Germany, Switzerland, Austria and the Middle East, has announced that it will be launching its own security tokens in alignment with Liechtenstein’s regulatory authority, FMA, and subsequently its cryptocurrency, “Union Bank payment coin,” which is fully backed by a fiat currency – the Swiss franc.

Fiat-Backed Crypto to Disrupt International Transactions

The virtual currency would reportedly be a competitor to other similar solutions like Stellar Lumens (XLM) and Ripple (XRP). Union Bank AG says it’s operating in a blockchain-friendly environment and that it has already been supporting initial coin offerings (ICOs) and clients to facilitate efficient and transparent conversions between crypto and fiat currencies.

“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,” M.H. Dastmaltchi, Chairman of the board of directors of the bank said in a statement. “Our fiat-backed Union Bank payment coin has the potential to disrupt the approach to international trade and international cross-border transactions,” he added.

See more - https://news.bitcoin.com/liechtenstein-bank-to-launch-its-own-cryptocurrency-backed-by-the-swiss-franc/


██████████                    █████████
 ████████▀       ████        ▀████████
  ███████       ███████        ██████
   ███████     █████████      ██████
    ███████   ███████████    ██████
     ███████   ▀▀█████████  ██████
      ███████████    ████████████
       ███████████    ██████████
        █████████      ████████
         ███████        ██████
          █████          ███
weiDex||
WHITEPAPER
|
█▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀█
█ ███████████████████████ █
█ █████████████████▀▀  ██ █
█ █████████████▀▀      ██ █
█ █████████▀▀   ▄▄     ██ █
█ █████▀▀     ▄█▀     ███ █
█ █▀▀       ▄█▀       ███ █
█ ███▄    ▄█▀         ███ █
█ ██████  █          ████ █
█ ██████  █ ▄███▄▄   ████ █
█ ████████████████▄▄▄████ █
█ ███████████████████████ █
█▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄█
JOIN OUR TELEGRAM
FACEBOOKWEBSITE
TWITTER     ⚫ BITCOINTALK
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
snipie
Legendary
*
Offline Offline

Activity: 1092
Merit: 1007


sMerit4art:bitcointalk.org/index.php?topic=2957836


View Profile
August 24, 2018, 06:28:13 AM
 #2

A token similar to XRP, better to see more of it. Another interesting news in the same article.
Quote
This announcement comes a few days after Cryptoassets, the Liechtenstein-based exchange, partnered with Binance, the world’s largest exchange by trade volume, to launch a fiat-to-crypto exchange in Liechtenstein.
Liechtenstein will catch the look of many investors in the future  Wink

jjacob
Legendary
*
Offline Offline

Activity: 1540
Merit: 1022


★Nitrogensports.eu★


View Profile
September 02, 2018, 05:31:17 AM
 #3

Liechtenstein’s Union Bank AG launched a website for the crypto investors https://www.unionbankag-invest.com
What do you think guys? Is it good project to invest?

It might have some use cases, but I see no reason to invest in a centralised cryptocurrency. It would be as good as holding a traditional bank account. You may be subject to know your customer norms and your funds could be frozen. It still beats me why Ripple increased in value during the crypto bull run.


           █████████████████     ████████
          █████████████████     ████████
         █████████████████     ████████
        █████████████████     ████████
       ████████              ████████
      ████████              ████████
     ████████     ███████  ████████     ████████
    ████████     █████████████████     ████████
   ████████     █████████████████     ████████
  ████████     █████████████████     ████████
 ████████     █████████████████     ████████
████████     ████████  ███████     ████████
            ████████              ████████
           ████████              ████████
          ████████     █████████████████
         ████████     █████████████████
        ████████     █████████████████
       ████████     █████████████████
▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
▬▬ THE LARGEST & MOST TRUSTED ▬▬
      BITCOIN SPORTSBOOK     
   ▄▄
██
██
██
██
██
██
██
██
██
██     
██
██
             ▄▄▄▄▀▀▀▀▄
     ▄▄▄▄▀▀▀▀        ▀▄▄▄▄           
▄▀▀▀▀                 █   ▀▀▀▀▀▀▀▄▄
█                    ▀▄          █
 █   ▀▌     ██▄        █          █               
 ▀▄        ▐████▄       █        █
  █        ███████▄     ▀▄       █
   █      ▐████▄█████████████████████▄
   ▀▄     ███████▀                  ▀██
    █      ▀█████    ▄▄        ▄▄    ██
     █       ▀███   ████      ████   ██
     ▀▄        ██    ▀▀        ▀▀    ██
      █        ██        ▄██▄        ██
       █       ██        ▀██▀        ██
       ▀▄      ██    ▄▄        ▄▄    ██
        █      ██   ████      ████   ██
         █▄▄▄▄▀██    ▀▀        ▀▀    ██
               ██▄                  ▄██
                ▀████████████████████▀




  CASINO  ●  DICE  ●  POKER   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
   24 hour Customer Support   

▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
veleten
Legendary
*
Offline Offline

Activity: 1344
Merit: 1020



View Profile
September 02, 2018, 05:03:47 PM
 #4

A token similar to XRP, better to see more of it. Another interesting news in the same article.
Quote
This announcement comes a few days after Cryptoassets, the Liechtenstein-based exchange, partnered with Binance, the world’s largest exchange by trade volume, to launch a fiat-to-crypto exchange in Liechtenstein.
Liechtenstein will catch the look of many investors in the future  Wink

a question is why do we need second XRP?
one super centralised pseudo crypto is enough in my books
but it seems that the trend is obvious-Central banks are losing its grip on the countries
more and more countries are trying to get rid of the opressive stranglehold by the CB and issue their own cryptobased currencies
Venezuela,now Lichtenstein are test platforms, expect more to follow

.BITSLER.                 ▄███
               ▄████▀
             ▄████▀
           ▄████▀  ▄██▄
         ▄████▀    ▀████▄
       ▄████▀        ▀████▄
     ▄████▀            ▀████▄
   ▄████▀                ▀████▄
 ▄████▀ ▄████▄      ▄████▄ ▀████▄
█████   ██████      ██████   █████
 ▀████▄ ▀████▀      ▀████▀ ▄████▀
   ▀████▄                ▄████▀
     ▀████▄            ▄████▀
       ▀████▄        ▄████▀
         ▀████▄    ▄████▀
           ▀████▄▄████▀
             ▀██████▀
               ▀▀▀▀
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄             
▄▄▄▄▀▀▀▀    ▄▄█▄▄ ▀▀▄         
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▄       
█  ▀▄▄  ▀█▀▀ ▄      ▀████   ▀▀▄   
█ █▄  ▀▄   ▀████       ▀▀ ▄██▄ ▀▀▄
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█  ▀▀       ▀▄▄ ▀████      ▄▄▄▀▀▀  █
█            ▄ ▀▄    ▄▄▄▀▀▀   ▄▄  █
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
█ ▄▄   ███   ▀██  █           ▀▀  █ 
█ ███  ▀██       █        ▄▄      █ 
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀   
▀▄            █        ▀▀      █   
▀▀▄   ███▄  █   ▄▄          █   
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀     
▀▀▄   █   ▀▀▄▄▄▀▀▀         
▄▄▄▄▄▄▄▄▄▄▄█▄▄▀▀▀▀               
              ▄▄▄██████▄▄▄
          ▄▄████████████████▄▄
        ▄██████▀▀▀▀▀▀▀▀▀▀██████▄
▄     ▄█████▀             ▀█████▄
██▄▄ █████▀                ▀█████
 ████████            ▄██      █████
  ████████▄         ███▀       ████▄
  █████████▀▀     ▄███▀        █████
   █▀▀▀          █████         █████
     ▄▄▄         ████          █████
   █████          ▀▀           ████▀
    █████                     █████
     █████▄                 ▄█████
      ▀█████▄             ▄█████▀
        ▀██████▄▄▄▄▄▄▄▄▄▄██████▀
          ▀▀████████████████▀▀
              ▀▀▀██████▀▀▀
            ▄▄▄███████▄▄▄
         ▄█▀▀▀ ▄▄▄▄▄▄▄ ▀▀▀█▄
       █▀▀ ▄█████████████▄ ▀▀█
     █▀▀ ███████████████████ ▀▀█
    █▀ ███████████████████████ ▀█
   █▀ ███████████████▀▀ ███████ ▀█
 ▄█▀ ██████████████▀      ▀█████ ▀█▄
███ ███████████▀▀            ▀▀██ ███
███ ███████▀▀                     ███
███ ▀▀▀▀                          ███
▀██▄                             ▄██▀
  ▀█▄                            ▀▀
    █▄       █▄▄▄▄▄▄▄▄▄█
     █▄      ▀█████████▀
      ▀█▄      ▀▀▀▀▀▀▀
        ▀▀█▄▄  ▄▄▄
            ▀▀█████
[]
m.roth
Jr. Member
*
Offline Offline

Activity: 35
Merit: 2


View Profile
September 11, 2018, 12:35:35 PM
 #5

Liechtenstein also is moving fast in terms of security tokens complying with the law. The just confirmed that the first real security token is launched under full approval of their financial market authority. This hopefully is a possibility to earn back some trust for serious projects after those many scams or shitty ideas.

https://www.naegele.law/archiv/prospekt-eines-ico-tge-eines-security-token-gebilligt
AXELNetwork
Member
**
Offline Offline

Activity: 70
Merit: 11


View Profile WWW
September 11, 2018, 03:32:42 PM
 #6

What's the point of having a centralized cryptocurrency? Why not just use cash at that point?

The AXEL Airdrop is now live! Claim your free tokens from here: https://go.axel.org/AirDrop1
vy99
Member
**
Offline Offline

Activity: 70
Merit: 24


View Profile
September 11, 2018, 05:56:21 PM
 #7

The virtual currency would reportedly be a competitor to other similar solutions like Stellar Lumens (XLM) and Ripple (XRP).

Oh joy. That's all we need in the cryptocurrency world, more centralized coins. At this point do people even know why Bitcoin was created in the first place???

I'm not cool enough to have a fancy signature so you're stuck reading this
magneto
Hero Member
*****
Offline Offline

Activity: 756
Merit: 568


View Profile
September 12, 2018, 09:28:11 AM
 #8

I don't think that they're necessarily going to disrupt anything.

Perhaps this could be used as a safe haven asset of sorts for investors who want to keep their savings offshore in Swiss Francs, except in a way which they can access whenever they want online and transact with it in the form of tokens. That is the niche that I think they will likely be focusing on.

But even then, there are already cryptos like Tether which essentially stand behind the same principal of pegging it against a fiat currency, which seems to be the whole idea of this crypto. Only difference is that there is a whole suite of services that this crypto may offer to investors in the future, which is yet to see how practical it will truly be. But at the end of the day - this is centralised, and I don't see that much promise in the long run.

Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!