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Thursday, March 4, 2021

The Netherlands bank starts offering accounts for utility tokens

  • The Netherlands-based Rabobank has started offering accounts for a utility token, TWO.
  • The token belongs to a project called 2Tokens Foundation, and it has various use cases.
  • Tomorrow, October 8th, the project will be wrapped with a virtual closing event.

Rabobank, one of the banks from the Netherlands, just became the first bank in the country to offer accounts for utility tokens. It currently facilitates the 2Tokens Foundation with a bank account, and the move represents a massive step in the right direction for crypto adoption, as well as for applying tokenization in modern society.

Rabobank offers bank accounts for TWO token

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As some may know, the 2Tokens Foundation uses a utility token known as TWO. The coin can be paid for in euros via iDeal. Meanwhile, partners can engage in numerous activities regarding tokenization, that the foundation often organizes.

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Some of them include various workshops, masterclasses, and other kinds of events.

With the new move, anyone who owns a Dutch bank account that allows iDeal payments can partner up with 2Tokens, and through this partnership, gain access to its exclusive events. On top of that, the partnership will also grant access to a unique network of knowledge, and massive amounts of educational material.

Rabobank has been participating in blockchain projects for a while now, and apart from 2Tokens, it also offers two other blockchain platforms — we.trade and KomGo.

Use cases of TWO token

The project originally started as an EU subsidized project, with an aim to deliver rules and guidelines for dealing with tokenization in the Netherlands.

Tokenization itself only became possible through the innovative nature of cryptocurrency and blockchain. Furthermore, the tokens’ behavior is programmable, which means that even the TWO token can be used in many different ways, including only having a limited lifetime. It can even be made in a way that only allows users to spend it once.

Thanks to blockchain technology, forging tokens is impossible. This gives them the status of a very safe means of value.

TWO tokens also have another major application, which is the division of the real estate, artwork, and other valuable goods that might require more than one owner.

Clearly, the project has a lot of potential, and as such, it might attract a lot of new users. With that in mind, it is important to note that the project will be wrapped up tomorrow, October 8th, with a virtual closing event. Anyone interested can go to 2Tokens’ website to register and become a participant.

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