Mongolia has taken a significant step forward toward bolstering its fintech sector, with the East Asian country’s central bank authorizing a local telecom operator to issue a digital currency under the country’s recently-passed national payment system bill.
As first reported by state-owned news agency Montsame, the Bank of Mongolia on Friday issued its first-ever digital currency license to Mobifinance — the fintech arm of Mobicom, the largest mobile phone provider in Mongolia.
Now licensed as a state-approved financial instrument, Mobicom’s virtual currency — dubbed “Candy” — is considered a “non-cash payment instrument” whose value is pegged to Mongolia’s fiat currency, the tugrik.
Read more: https://www.ccn.com/mongolia-issues-first-digital-currency-license-under-new-payment-system-law/
Topic: [2018-09-29] Mongolia Issues First Digital Currency License under New Payment Sy (Read 88 times)
September 29, 2018, 12:31:20 AM
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