PwC Portugal advised Bison Bank on the merger with Bison Digital Assets and the issuance of Portugal's first stablecoin. PwC's Risk & Regulation, IFRS and Tax teams provided support covering the regulatory, accounting and tax framework associated with this operation.
With this merger, Bison Bank became the first crypto asset service provider in Portugal and the first Portuguese bank to operate directly as a Crypto Asset Service Provider under the European MiCA regulation. The merger was announced in June.
Portugal's first stablecoin, called the Bison Bank Electronic Money Token (EMT), was launched in two versions: EUB, indexed to the euro, and USB, indexed to the US dollar. A stablecoin is a digital asset that maintains a stable value by being indexed to a legal tender currency, now regulated by MiCA, which establishes a rigorous framework to protect users and promote trust in the digital ecosystem.
Bison Bank is a Portuguese bank headquartered in Lisbon, specialized in private banking, custodian banking, corporate advisory and digital asset services. According to Rodrigo Domingues, PwC Partner, this collaboration reinforces the firm's commitment to supporting institutions that lead the digital transformation of the financial sector in Portugal.
