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Bison Bank announced Tuesday it will issue Portugal’s first bank-backed stablecoin and transform into the country’s first fully licensed cryptobank, marking a major expansion of regulated digital asset services under the European Union’s new MiCA framework.
The Lisbon-based investment bank said it plans to launch the stablecoin and begin offering cryptocurrency investment services to clients in the first half of 2025, following regulatory approval to integrate crypto assets into its core banking operations.
Bison Bank’s plans are made possible by MiCA, the EU’s landmark digital asset regulation designed to harmonize crypto rules across member states. Under this framework, banks and financial institutions can issue cryptoassets, including stablecoins, and offer related services under a single regulatory regime.
European regulatory approval now allows Bison Bank to operate crypto services in Portugal and to invest in digital assets on behalf of its clients. This clarity has been widely seen as a catalyst for Portugal crypto adoption, especially among institutions that had previously stayed on the sidelines due to legal uncertainty.
In announcing its strategy, the bank outlined three core initiatives aimed at consolidating its leadership in financial innovation. These include issuing a stablecoin indexed to a more stable asset—the first such issuance by a Portuguese bank—advancing asset tokenisation projects, and completing its transformation into Portugal’s first cryptobank.
The bank also said it plans to make its technology and expertise available to clients interested in launching tokenisation projects, reinforcing its broader role in supporting Portugal crypto adoption across traditional and digital markets.
The proposed stablecoin is central to Bison Bank’s vision and represents a significant milestone for Portugal crypto adoption. Unlike volatile cryptocurrencies, stablecoins are typically pegged to fiat currencies or other stable assets, making them more suitable for payments, settlement, and institutional use.
While Bison Bank has not yet confirmed the specific asset backing the stablecoin, its issuance by a regulated Portuguese bank underscores a growing convergence between traditional finance and crypto markets. Analysts see this as a signal that Portugal crypto adoption is entering a more mature phase, where banks play a direct role in shaping market infrastructure.
Although no official launch date has been set, the bank indicated that preparations are well advanced. António Henriques, Chief Executive Officer of Bison Bank, said the institution is working toward an imminent rollout.
“We are working towards making the new services available in the first half of this year,” — António Henriques, CEO, Bison Bank.
Henriques’ remarks suggest that Portugal crypto adoption could see tangible, consumer-facing developments within months, rather than years.
Beyond the stablecoin, Bison Bank highlighted progress in asset tokenisation, a process that converts ownership rights in physical or financial assets into digital tokens recorded on a blockchain. These tokens can represent assets such as real estate, artwork, or bonds.
Tokenisation enables fractional ownership, faster settlement, improved liquidity, and continuous trading, all within a secure and transparent digital environment. By supporting tokenisation projects, Bison Bank aims to broaden the practical use cases driving Portugal crypto adoption beyond trading and speculation.
The bank said it intends to support clients seeking to tokenize assets by providing both technical infrastructure and regulatory expertise. This approach aligns with Portugal’s broader ambition to position itself as an innovation-friendly financial hub within the European Union.
Henriques emphasized the bank’s focus on delivering regulated innovation rather than untested experimentation. “The institution is working towards making the new services available in the first half of this year,” he said, underscoring a cautious but forward-looking strategy — António Henriques, CEO, Bison Bank.
Bison Bank’s announcement reflects a wider trend across Europe, where MiCA is encouraging banks to formally enter crypto markets. For Portugal crypto adoption, the significance lies not only in the issuance of a stablecoin, but in the emergence of a regulated cryptobank model operating within national and EU supervisory frameworks.
By embedding digital assets into its core operations, Bison Bank is moving beyond pilot projects toward full integration of crypto services. This could lower barriers for institutional and high-net-worth clients seeking compliant exposure to digital assets, while also setting a precedent for other Portuguese banks.
As MiCA comes fully into force across the EU, Portugal crypto adoption is expected to accelerate, particularly if regulated players continue to lead innovation. With its stablecoin plans and tokenisation strategy, Bison Bank is positioning itself at the forefront of this shift, signaling that crypto is becoming part of mainstream banking in Portugal rather than a parallel financial system.
