Bison Bank, a Portuguese bank specializing in private banking, deposit services, corporate advisory services, and digital assets, announced the official launch of the first Portuguese stablecoin: the “Bison Bank Electronic Money Token.” Designed for fast, secure, and transparent international payments and transfers, this digital asset will be issued as two distinct crypto assets: one pegged to the euro, called “EUB,” and the other pegged to the US dollar, called “USB.”
Cuatrecasas provided legal advice to Bison Bank in the process with a team led by lawyer Nuno Lima da Luz, from the Technology and Telecommunications area, and included Tomás Gomes da Silva, from the Financial area.
In January, the bank announced its strategic focus on developing tokenization capabilities. Today, that vision is realized with the launch of these electronic money tokens, marking Portugal’s pioneering entry into this field. This initiative fully complies with the MiCA (Markets in Crypto-Assets) Regulation, the European Union’s legal framework designed to harmonize the regulation of crypto-assets and ensure security and operational stability. This move demonstrates Bison Bank’s deep investment in the digital asset sector and positions it among the first regulated financial institutions in Portugal to operate with innovative solutions under the new European framework.
Nuno Lima da Luz emphasized that “this was a very exciting, yet complex, operation, requiring the harmonization of traditional financial regulations with the new challenges of the MiCA. We supported Bison Bank from the initial operational and legal structuring to the drafting of the white paper, striving for the utmost rigor throughout the entire process. We are very pleased with the outcome and with being able to once again work alongside Bison Bank on these cutting-edge issues.”
A bridge between traditional money and the digital future
In 2022, Bison Bank launched Bison Digital Assets (BDA), the first wholly owned Virtual Asset Service Provider (VASP) licensed by the Bank of Portugal and owned by a Portuguese bank. Through this subsidiary, Bison Bank enabled its clients to access cryptocurrency exchange and custody services directly from their bank accounts. The firm also advised Bison Bank on this matter.
Now, Bison Bank’s e-money token sets a new standard for digital money. It fully complies with the new European regulatory framework and fosters innovation while ensuring user protection and market stability.
Bison Bank is a Portuguese bank specializing in investment banking, custody, corporate advisory services, and crypto assets. The newly launched stablecoins were designed to ensure fast, secure, and transparent international payments and transfers. This development complies with the European Union’s new legal framework for crypto assets, the Markets in Crypto-Assets Regulation (MiCA), as well as with applicable banking and electronic money legislation.
Legal Advisors
Bison Bank Advisors:
- Cuatrecasas: Senior Associate Nuno Lima da Luz. Associate Tomás Gomes da Silva. The team also included the participation of university professor Paulo Cardoso do Amaral, PhD in Information Systems, who acted as an external consultant on the technical and strategic component.
