Portugal’s Central Bank has granted a license to Bison Bank to establish the first crypto bank in the country.
Related: The CB of Portugal issued BTC licenses to crypto exchanges
According to a report by the local media Sapo, Bison Bank is authorized to launch Bison Digital Assets, a company that will deliver custodial and exchange services of cryptos.
Thus, customers will be able to access a new and broader set of products and services that will match the current global need for financial and virtual currencies.
Bison Digital Assets will also provide services for institutional investors. Which cryptocurrencies will be available isn't known yet. The company will be regulated by the Banco de Portugal, which will supervise the anti-money laundering and counter-terrorism financing framework.
It is the first time a crypto bank launches in Portugal, but the country was exploring the industry for a while. It is one of the most crypto-friendly countries and it has one of the tax-friendliest regimes in the world—when it comes to crypto.