AVN 54.75 Decreased By ▼ -0.72 (-1.3%)
BOP 10.65 Increased By ▲ 0.44 (4.31%)
CHCC 127.00 Decreased By ▼ -2.20 (-1.7%)
DCL 8.97 Decreased By ▼ -0.13 (-1.43%)
DGKC 102.98 Decreased By ▼ -1.77 (-1.69%)
EFERT 66.80 Decreased By ▼ -0.25 (-0.37%)
EPCL 31.25 Decreased By ▼ -0.50 (-1.57%)
FCCL 21.10 Decreased By ▼ -0.05 (-0.24%)
FFL 13.66 Increased By ▲ 0.51 (3.88%)
HASCOL 14.12 Increased By ▲ 0.48 (3.52%)
HBL 129.53 Decreased By ▼ -0.21 (-0.16%)
HUBC 81.90 Decreased By ▼ -0.70 (-0.85%)
HUMNL 9.48 Decreased By ▼ -0.03 (-0.32%)
JSCL 15.85 Increased By ▲ 0.17 (1.08%)
KAPCO 24.70 Increased By ▲ 0.35 (1.44%)
KEL 3.54 Decreased By ▼ -0.06 (-1.67%)
LOTCHEM 12.92 Decreased By ▼ -0.04 (-0.31%)
MLCF 33.00 No Change ▼ 0.00 (0%)
OGDC 112.29 Decreased By ▼ -1.26 (-1.11%)
PAEL 33.05 Decreased By ▼ -0.30 (-0.9%)
PIBTL 11.07 Decreased By ▼ -0.03 (-0.27%)
PIOC 81.00 Increased By ▲ 0.94 (1.17%)
POWER 9.11 Increased By ▲ 0.37 (4.24%)
PPL 99.25 Decreased By ▼ -0.05 (-0.05%)
PSO 181.42 Decreased By ▼ -2.10 (-1.14%)
SNGP 55.43 Decreased By ▼ -0.42 (-0.75%)
STPL 11.77 Increased By ▲ 0.22 (1.9%)
TRG 50.16 Increased By ▲ 1.81 (3.74%)
UNITY 12.60 Increased By ▲ 0.03 (0.24%)
WTL 1.05 Increased By ▲ 0.08 (8.25%)
BR100 4,150 Increased By ▲ 53 (1.28%)
BR30 21,301 Increased By ▲ 403 (1.93%)
KSE100 39,883 Increased By ▲ 305 (0.77%)
KSE30 17,298 Increased By ▲ 140 (0.82%)
COVID-19 TOTAL DAILY
CASES 281,136 675
DEATHS 6,014 15
Sindh 122,016 Cases
Punjab 93,571 Cases
Balochistan 11,780 Cases
Islamabad 15,122 Cases
KP 34,324 Cases

VILNIUS: With several countries pushing forward to introduce digital currencies, eurozone member Lithuania rolled out Thursday an electronic collector coin as a pilot project to get some real experience with virtual money.

"LBCOIN" can be purchased on the Bank of Lithuania's e-shop by collectors from Thursday and will be issued on July 23, Lithuania's central bank said in a statement.

It consists of digital tokens which can be traded in for a credit card-shaped silver coin worth 19.18 euros - the year of Lithuania's declaration of independence.

The coin will have legal tender status similar to other euro collector coins but the Bank of Lithuania said its use as a means of payment "will not be encouraged".

Nevertheless, the issuance of 24,000 digital tokens and 4,000 physical collector coins will hopefully provide some valuable insights.

"One of the key elements is to test this coin from the point of view of cyber security," Marius Jurgilas, a board member of the Bank of Lithuania, told reporters.

The Bank for International Settlements, which brings world central banks together, said last month the coronavirus crisis is likely to speed up the development of state-backed digital currencies as the demand for electronic retail payments has boomed.

Facebook's ambitious digital money initiative - Libra - which is tentatively scheduled to launch later this year, has spurred countries to take another look at creating their own electronic money despite security issues that bitcoin and others have experienced.