Crypto Money in Mongolia: New Service from Giant Bank

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Mongolia approved Candy, a digital central bank currency, in 2018 and made various progress in cryptocurrency activities. It was learned that the Trade and Development Bank (TDB), one of the oldest and largest banks in Mongolia, is preparing to offer cryptocurrency services in cooperation with Delio and Hexland companies.

It was stated that as a result of the cooperation between Delio and Hexland with TDB, it is aimed to bring together services such as crypto money storage, remittance, transfer transactions, credit, asset management with users. In DDaily’s report, it is stated that TDB, one of the leading banks in Mongolia, is one of the leading banks of the country and leads in many areas such as investment, credit, consultancy services. It was also shared that MDKI, a mining and blockchain company, was also included in the collaboration. It has been announced that the MDKI company wants to support crypto money projects.

A Delio official reported that they are preparing for a rapid entry into the global cryptocurrency market thanks to the cooperation with Mongolia’s leading bank on the issue. In the news shared on Cointelegraph, it is not yet shared when the announced new crypto money service will be launched.

CBDC studies were approved

Taking firm steps forward in the crypto money market, Mongolia approved to issue its own digital central bank money in 2018. Mongolia’s digital coin named Candy was introduced and approved as a new payment method by the Central Bank of Mongolia on September 28, 2018. Following the announcement that Mobicom’s branch, Mobifinance, will work to launch Candy, Mobicom CEO Tatsuya Hamada commented that with the introduction of digital currencies, the ATM and card system will be a thing of the past.


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