THE CENTRAL BANK OF LITHUANIA WILL RELEASE A COLLECTOR’S CRYPTO COIN

According to Marius Jurgilas, Board member of the Bank of Lithuania, the issued coin called LBCoin will be a means of payment along with other numismatic coins issued by the Bank of Lithuania.

“We want to revive numismatics, which is a dying theme. Perhaps a very small part of young people are interested in collecting, but Central Banks do it, and we thought how we can survive in this changing space,” said Jurgilas.

He also cited research data, according to which 70% of the world’s Central Banks are working on the creation of state cryptocurrencies. The presentation of the LBCoin will be held in February at the Blockchain Center conference in Vilnius, where the competition of blockchain projects and decentralized FINTECH applications will also start.

Lithuania announced its intention to issue a numismatic crypto-coin at the beginning of last year and planned to coincide with the centenary of independence of the Baltic state and demonstrate the dynamism of its country, which encourages innovation and new technologies, as well as the world’s first digital collection of numismatic products.