Raiffeisen Bank to enable cross-blockchain interoperability for tokenised currencies

Raiffeisen Bank International (RBI) will enable cross-blockchain interoperability in its national currencies tokenisation project.

Very exciting news for @PantosIO: We entered into a partnership with @RBI_Presse to bring PAN’s technology to the banking industry.https://t.co/CQkQOBlYl9

— Bitpanda (@bitpanda) October 22, 2020

As part of the initiative, the RBI Coin being developed by the group will integrate a tool called Pantos. Specialists from the cryptocurrency broker Bitpanda and the Vienna University of Technology have been developing it for the past 2.5 years.

RBI Coin is a 1:1 digital version of the national currency. It will allow corporate and institutional clients to issue, redeem and execute near-instant electronic money transactions in compliance with regulatory requirements.

“Pantos will make asset tokenisation a reality by bringing interoperability, broadening the ways clients can use it,” explained Christian Wolf, head of RBI’s Strategic Partnerships and Ecosystems division.

The bank plans to test the solution at the proof-of-concept stage.

Earlier in May, RBI announced the launch of a pilot project for tokenising national currencies.

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