Anyone who thought cryptocurrency was a temporary invention should think again. After some time of speculation, crypto is becoming mainstream. Many countries have been considering introducing a central bank-backed cryptocurrency. For now, the Central Bank of Lithuania is the first to make it a reality.
It has introduced the first digital currency LBCOIN. The coin becomes first the official government-issued digital currency. The country seeks to use it as a transition from the traditional banknotes to digital money. It also sets apart the country as a leader in innovation. It shows the nation is willing to stay ahead in financial and payment innovation.
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