TLDR
- Bison Bank launched the Bison Bank Electronic Money Token.
- EUB is referenced to the euro and USB is referenced to the U.S. dollar.
- The tokens are designed for international payments and transfers.
- The launch follows the EU’s MiCA crypto-asset framework.
- Bison Bank created Bison Digital Assets in 2022 for crypto services.
Bison Bank has launched the Bison Bank Electronic Money Token, marking Portugal’s first bank-issued stablecoin product under the European Union’s Markets in Crypto-Assets regulation.
The digital asset will be issued in two versions. EUB will be referenced to the euro, while USB will be referenced to the U.S. dollar. Bison Bank said the tokens are designed for fast, secure and transparent international payments and transfers.
The bank is a wholly owned subsidiary of Bison Capital Holding Company Limited and operates as a regulated European credit institution. The launch places Bison Bank among the early European banks issuing electronic money tokens under the MiCA framework.
EUB and USB Target International Payments
The Bison Bank Electronic Money Token is structured as an electronic money token, or EMT. Each token is designed to maintain a stable value by being backed one-to-one by reserves in the referenced fiat currency.
EUB will represent euro-denominated digital money, while USB will represent U.S. dollar-denominated digital money. The two tokens are expected to support institutional and private banking clients that need faster international payment and transfer options.
Bison Bank said the product is intended to bridge traditional money with blockchain-based payment systems. The bank described the token as a compliant channel for cross-border settlement among institutional partners.
The launch follows Bison Bank’s earlier move into digital assets. In 2022, the bank created Bison Digital Assets to offer crypto-asset exchange and custody services directly through client bank accounts.
MiCA Rules Shape Portugal Stablecoin Launch
The launch comes under MiCA, the European Union rulebook created to harmonize crypto-asset regulation across member states. Portugal has implemented MiCA through Law 69/2025, setting a formal framework for crypto-asset service providers and token issuers.
Under the current structure, Banco de Portugal oversees registration and anti-money-laundering controls for crypto-asset service providers. The CMVM supervises tokenized securities and trading venues.
Entities registered under older national rules have until July 1, 2026, to obtain full MiCA licenses in order to continue operating. The framework also requires electronic money tokens to meet reserve, governance and client protection standards.
Because Bison Bank is a regulated EU credit institution under European Central Bank supervision, its electronic money token is positioned within the region’s bank regulatory system. The bank said the product complies with MiCA requirements for operational security and market stability.
Basel Treatment Supports Bank Use
Bison Bank said its electronic money token may qualify for preferential treatment under the Basel Committee’s prudential treatment of cryptoasset exposures, known as SCO60, which takes effect on January 1, 2026.
That treatment may allow financial institutions in jurisdictions aligned with the Basel framework to use the token in treasury operations and balance-sheet management with capital requirements linked to the underlying fiat asset.
António Henriques, chief executive of Bison Bank, said the token is intended to provide a secure bridge between traditional money and digital finance. He said the product combines a regulated banking structure with digital asset settlement technology.
Electronic money tokens differ from many crypto-assets because they are designed to track traditional currency values and are issued by regulated entities. In Bison Bank’s case, the bank says each token will be backed by reserves equal to the fiat value it represents.
The launch gives Portugal a bank-issued stablecoin product at a time when European financial institutions are preparing for wider regulated digital asset use. Bison Bank’s EUB and USB tokens will now enter a market shaped by MiCA licensing, reserve rules and institutional demand for compliant blockchain payment tools.
