Belgian KBC Bank is the first financial institution in Europe to launch Kate Coin, a digital currency based on blockchain technology.
Customers will be able to acquire and effectively use Kate coins in a “closed loop” environment through the Kate Coin wallet in KBC Mobile, outside of which the coins have no monetary value. KBC is fully collateralized by KBC and pegged 1:1 to the euro at 1 EUR per KBC.
Johan Thijs, CEO of KBC Group, commented: “A whole new economy is currently developing on the basis of new technologies such as Web3.0, cryptocurrencies, NFTs, etc.
With Kate Coin, we are entering this new world. This is how we are preparing KBC for the future. “