The article has been updated to reflect a mistake in the name of the Sheikh involved in the funding, who is Sheikh Saeed bin Ahmed Al Maktoum, not Sheikh Ahmed bin Al Maktoum. Dubai royal Sheikh Saeed bin Ahmed Al Maktoum is backing Lichtenstein-based cryptocurrency fund manager Invao, according to a report from Bloomberg on Feb 5. The fund management firm purportedly aims to secure more investors in the United Arab Emirates (UAE). The Sheikh’s private office, known simply as The Private Office, will reportedly help Invao to secure funding in the UAE. The Private Office also invests in cryptocurrencies …

The number of blockchain-related firms in Switzerland and Liechtenstein has continued to rise according to a survey conducted by Switzerland-based crypto investment firm CV VC, Cointelegraph auf Deutsch reports on Jan. 24. Per the report, crypto- and blockchain-related firms continue to crop up in the region despite the current bear market, which some have dubbed the “crypto winter.” CV VC states that at the end of December 2018, 750 companies using distributed ledger technology were located in Switzerland and Lichtenstein. This reportedly represents a 20 percent increase over the past year consisting of 121 new companies entering the space. Among …

Major crypto exchange Binance plans to expand to eight new countries in 2019, according to a report from crypto outlet The Block, Jan. 17. Following the report, a Binance spokesperson has declined to confirm six of the alleged locations in comments to Cointelegraph today, Jan. 18. Just a day after the major cryptocurrency exchange launched its new European-focused platform for fiat-crypto trading in Jersey, The Block published a report that included a screenshot of a spreadsheet allegedly outlining all the locations for Binance’s fiat-crypto exchanges that are already-launched, intended and under consideration. In addition to Uganda — which launched in …

Professional traders-focused Liechtenstein Cryptoassets Exchange (LCX) has recently acquired a “business license” in Liechtenstein, according to a press release shared with Cointelegraph Nov. 27. The new license granted by the Liechtenstein Ministry of Economic Affairs is reportedly a milestone for LCX in developing a “fully regulated blockchain ecosystem,” targeting institutional and professional investors. Following the recent licensing, the LCX is also planning to apply for a Financial Market Authority (FMA) license, as well as other regulators’ approvals to trade security tokens among other offerings, the firm revealed in the press release. In order to receive more licenses, the LCX has …

Securities Commissioner Karen Tyler of North Dakota, U.S., has issued a cease and desist order against a Russian Initial Coin Offering (ICO) that posed as Liechtenstein Union Bank, according to a Monday, Nov. 19 press release. The state Securities Department’s ICO Task Force conducted an investigation and found out that the website of the fraudulent ICO mimicked Union Bank Payment Coin (UBPC) — an existing token launched by Union Bank in Liechtenstein back in August. As per the regulator, the project’s website claimed to become the “world’s first security token backed by a fully licensed bank” and stated that the …

Liechtenstein bank Union Bank AG announced it was issuing its own security tokens and in-house cryptocurrency backed by fiat in a press release Friday, August 17. Union Bank, which has concentrated increasingly on blockchain this year, said issuing its so-called “Union Bank Payment Coin (UBPC)” was a further step towards becoming a “full-service blockchain investment bank.” UBPC will act as a stable coin, the institution explained, and will have fiat currencies “such as the Swiss franc” as its backing. “Our goal is to become the world's first blockchain investment bank and to provide tangible solutions which help drive efficiencies, reduce …

Binance LCX, a joint venture between Binance and Liechtenstein Cryptoassets Exchange (LCX), has announced the launch of a fiat-to-crypto exchange, according to a press release published August 16. The new trading platform will be located in Liechtenstein and offer trading between Swiss Francs (CHF) and euros (EUR) against major digital currencies pairs, subsequently adding more trading pairs following regulatory approvals. Binance will provide and support the platform, while Binance LCX will lead customer support, regulatory compliance, and government communication. Adrian Hasler, Prime Minister of Liechtenstein, commented the launch: "We are confident that Liechtenstein's existing and future legal framework and practice …