{"id":63001,"date":"2022-06-16T14:17:25","date_gmt":"2022-06-16T11:17:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63001"},"modified":"2025-09-05T21:24:31","modified_gmt":"2025-09-05T18:24:31","slug":"one-of-europes-largest-banks-launches-its-own-digital-token","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/one-of-europes-largest-banks-launches-its-own-digital-token\/","title":{"rendered":"One of Europe\u2019s largest banks launches its own digital token"},"content":{"rendered":"<p>Belgian banking group KBC Group launched a euro-linked digital token called Kate Coin. The instrument is intended for use within the organisation&#8217;s ecosystem and its partners. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">KBC creates a first in Europe with the Kate Coin, its own digital coin based on blockchain <a href=\"https:\/\/t.co\/zHEoJrzCW5\">https:\/\/t.co\/zHEoJrzCW5<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/kbcgroup?src=hash&#038;ref_src=twsrc%5Etfw\">#kbcgroup<\/a> <a href=\"https:\/\/twitter.com\/hashtag\/digital?src=hash&#038;ref_src=twsrc%5Etfw\">#digital<\/a> coin <a href=\"https:\/\/twitter.com\/hashtag\/innovation?src=hash&#038;ref_src=twsrc%5Etfw\">#innovation<\/a> <a href=\"https:\/\/t.co\/VxVLQbtcg6\">pic.twitter.com\/VxVLQbtcg6<\/a><\/p>\n<p>\u2014 KBC Group (@kbc_group) <a href=\"https:\/\/twitter.com\/kbc_group\/status\/1537304837402120192?ref_src=twsrc%5Etfw\">June 16, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the press release, Kate Coin is a digital token built on KBC\u2019s exclusive blockchain. Private clients will be able to purchase the stablecoin via the bank\u2019s mobile app. The credit institution stressed that outside the KBC ecosystem the token has no value. <\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cA customer can purchase Kate Coin as a reward for loyalty, when purchasing a particular product or taking certain actions. The tokens can be used, for example, to obtain a discount on another KBC product,\u201d explained Eric Luts, the group\u2019s Director of Innovation.<\/p>\n<\/blockquote>\n<p>KBC Group warned that tokens cannot be transferred to other users or exchanged for euros.<\/p>\n<p>Kate Coin is backed by KBC reserves and tied to the euro, but \u201cis not cryptocurrency or a stablecoin.\u201d The organisation calls the instrument \u201ca programmable digital coin.\u201d<\/p>\n<p>On 19 June the bank will test the token at Werchter Boutique music festival. KBC staff will be able to pay for snacks and drinks with Kate Coin.<\/p>\n<p>KBC Group is one of Europe\u2019s largest banking groups. For 2021, it <a href=\"https:\/\/www.kbc.com\/en\/about-us\/our-financial-performance.html\">\u0443\u043f\u0440\u0430\u0432\u043b\u044f\u043b\u0430<\/a> assets worth around \u20ac340.34 billion.<\/p>\n<p>In May 2022, the Belgian Financial Services and Markets Authority <a href=\"https:\/\/forklog.com\/en\/news\/belgian-regulator-tightens-oversight-of-the-crypto-industry\">introduced mandatory registration<\/a> for cryptocurrency exchanges and custodial wallet operators.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Belgian banking group KBC Group launched the euro-linked digital token Kate Coin. The instrument is intended for use within the organisation&#8217;s ecosystem and its partners.<\/p>\n","protected":false},"author":1,"featured_media":63002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1229,217,596],"class_list":["post-63001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-banks-and-fintech","tag-belgium","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"13","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=63001"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63001\/revisions"}],"predecessor-version":[{"id":63003,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63001\/revisions\/63003"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/63002"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=63001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=63001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=63001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}