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Lithuanian Central Bank’s Commemorative Digital Token Goes Live Thursday

by CBDC Insider Staff
July 23, 2020
in Business, Europe
Reading Time: 1min read
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Lithuanian Central Bank’s Commemorative Digital Token Goes Live Thursday
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In an announcement on its website, the bank said it would release 24,000 digital tokens that commemorate the signing of the nation’s Act of Reinstating Independence in 1918.
The launch of LBcoin comes after about two years of blockchain experiments by the Lithuanian central bank. LBcoins, while exchangeable for legal tender, currently seem too advanced for people to actually use.Â
According to the bank, the tokens will be divided into six categories, with 4,000 digital tokens issued in each.Â
In its announcement, the central bank said the tokens could be purchased and stored on the Bank of Lithuania’s e-shop. Consumers would also be able to transfer their tokens to a public NEM wallet, exchange them, gift them or even trade them for a silver coin if they can get their hands on one of each category.

Continue read: https://www.nasdaq.com/articles/lithuanian-central-banks-commemorative-digital-token-goes-live-thursday-2020-07-22

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