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Укр € 3 Million has been invested into a Paperless Banknote as an Asset-referenced token
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On January 2, liquidity providers exchanged 3 million euros of ON® notes (stable coin ON®, marked ONS, denominated in euros) for 3 million 372 thousand original ON® notes (asset-referenced token ON®, marked ONA), at the rate of 1.124 ONA to 1 € ONS.
The original ON® banknotes are issued as an asset-referenced token in accordance with MiCA regulations, just like the ON® stable coin.
ONS moved into ONA's basket of assets, ensuring the issuance of ONA banknotes in a hard currency, the euro.
The role of ONA collateral is to maintain liquidity at the level of the current exchange rate in hard currency in the amount of 100% and 100% of the time the collateral stays in the account of the ONA liquidity provider in one of the European banks.
Thus, 3 million euros have been invested by the liquidity provider in securing the ONA exchange rate in order to place ONA on a regulated digital asset trading platform.
The date of the start of trading is currently not disclosed.
