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Bank of Lithuania to issue Virtual LBCOINs

The Bank of Lithuania is to issue a batch of virtual and physical blockchain-based collector coins from a purpose-built e-shop from next month.

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Bank of Lithuania to issue Virtual LBCOINs

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The LBCOIN e-shop, where buyers will be able to create their accounts, is expected to run from 9 July. LBCOIN's consist of a set of six randomly selected digital tokens that can be exchanged into a physical collector coin.

The silver coins of unconventional denomination - €19.18 - will have the legal tender status in Lithuania as any other euro collector coins, however, their use as a means of payment will not be encouraged.

The Bank of Lithuania says the creation of the coins has given it valuable experience and knowledge in the field of digital currencies.

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