KBC Group, a leading European bank and insurance company, has launched a token that is based on a blockchain platform. Customers will be able acquire the new proprietary coins through their KBC wallet or mobile app.
KBC, a Brussels-based financial institution, has launched its own cryptocurrency called “Kate Coin”. It will soon be available for use by the entire group.
This coin is one year and half since the launch of Kate, KBC’s personal digital assistant. The company released a press release stating that web 3.0, cryptocurrency and non-fungible tokens ( NFTs) are now the foundation of a new economy. KBC is launching a new initiative to expand its digital banking insurance business and establish itself as a leader.
KBC, a bank-insurer is focusing its efforts on small and medium-sized businesses in Belgium, Bulgaria and Hungary, Slovakia, Slovakia, and Czech Republic. Customers will be able acquire Kate coins and then use them through their mobile and digital wallets.
Initial availability of the token will be in KBC’s closed loop banking and insurance environment. It will eventually be made available to the wider ecosystem. This includes KBC enterprise customers and third parties.
The digital assistant Kate will make it easier for customers in the KBC group today and into the future. KBC Group released a statement Thursday stating that the combination of the digital assistant Kate with the Kate Coin will allow KBC customers to save money and time.
This is not the first time that a large bank has created its own digital currency. JPMorgan , a global investment bank and financial service company, announced in 2020 that it had created its own cryptocurrency, JPM Coin. It is also based upon blockchain technology and allows for payments between institutional clients.
