Belgium-based KBC Group to Launch Its Digital Coin Pegged to Euro at 1:1

Belgian bank KBC Group announced that it will launch Kate Coin, a programmable digital coin based on blockchain technology. Kate Coin is fully collateralised by KBC and pegged to the euro on a 1:1 basis, but it's not stablecoin. Customers can use it via Kate Coin wallet in a so-called "closed loop" ecosystem within the KBC banking and insurance environment. Kate Coins are not transferable to other KBC customers and cannot be exchanged for euros.