Bison Bank launches Portugal’s first stablecoin – Portugal Resident
Bison Bank, a Portuguese bank specialising in investment banking, depository, corporate advisory, and digital asset services, launched the first Portuguese stablecoin onto the market: the ‘Bison Bank Electronic Money Token’ on Wednesday, (May 6).
Designed for “fast, secure, and transparent international payments and transfers”, this digital asset will be issued in two crypto assets: one referenced to the Euro, designated ‘EUB’, and the other referenced to the US Dollar, designated ‘USB’.
In January of this year, the bank announced its strategic commitment to developing tokenization capabilities.
Now it has achieved its aim with Electronic Money Tokens, marking Portugal’s pioneering entry into this market.
The move has been made in strict compliance with the MiCA (Markets in Crypto-Assets) Regulation, the innovative European legal framework that harmonises the regulation of crypto assets, aiming to ensure their security and the stability of operations throughout the European Union.
It also underscores Bison Bank’s investment in the area of digital assets and positions this banking institution among the first to operate with regulated financial innovation solutions in Portugal, within the European regulatory context.
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