Mongolia’s first official digital currency now in circulation

Economy
munhzul@montsame.mn
2018-09-28 17:47:38

Ulaanbaatar /MONTSAME/. The ceremony for ‘Digital currency’--a new method of payment has taken place at the Bank of Mongolia today.

As the bill on the National payment system was passed, the Bank of Mongolia has developed a new set of regulations about digital currency. Mobifinance non-bank financial institution of the Mobicom Corporation became the first company to acquire the certificate for issuing digital currency and it started the circulation of “Candy” as an official digital currency.

The CEO of Mobicom Corporation Tatsuya Hamada said, “As digital currencies have begun to circulate, ATMs and cards will become a thing of the past as well.”