Austrian division Raiffeisen Bank will develop a platform for tokenization of national currencies

Austrian division of Raiffeisen Bank International (RBI) together with startup Billon announced developing a blockchain platform for tokenizing national currencies. The Billon website says that the pilot project will be launched before the end of 2020, and corporate and institutional clients will take part in it.

The platform will be built on the basis of the Billon solution “Digitized Distributed Cash system”. An internal RBI Coin token linked to the euro will also be developed. Customers will be able to create transactions using RBI Coin.