KBC launches its digital currency

The bank-insurer’s private clients (KBC Bank, KBC Brussels and CBC Banque) will be able to use the “Kate Coin” in a closed environment, outside of which it has no value.

The use will initially be limited to the KBC banking and insurance environment (acquisition and use of products and services), before opening up to a broader ecosystem, details the group. “Kate Coins”, however, are not transferable to other customers and cannot be exchanged for euros.

It is a programmable digital currency, not a bitcoin or a stablecoin, the group further emphasizes. It is pegged to the Euro on a 1:1 basis (1 Euro per “Kate Coin”) to exclude volatility and speculation.

The “Kate Coin” refers to Kate, the band’s personal digital assistant.

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