AUB News

€ 3 Million has been invested into a Paperless Banknote as an Asset-referenced token

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.

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The mission of the Association of Ukrainian Banks is to support the development of the national banking system. The AUB cooperates with the Verkhovna Rada of Ukraine on improving the legislation governing banking activities, and interacts with the National Bank of Ukraine on regulatory support for the functioning of banks and non-bank financial institutions. The CBA takes care of the professional development of bank employees, expands international relations with associations and banking institutions of other countries.



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