Today KBC bank unveiled the Kate Coin, a blockchain-based e-money offering that can only be used via the KBC Mobile app. Its first large-scale test with 8,000 KBC employees takes place this weekend.
The bank was keen to distance itself from stablecoins given the closed-loop nature of Kate Coin. Initially, the coin can only be used to pay for KBC banking and insurance services, but it plans to partner with some of its enterprise customers and others to use it in the KBC Mobile ecosystem.
KBC said it is preparing for the future with its new offering, citing the new world of web3 and NFTs.
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