Unverified reports are making waves in financial and blockchain circles, suggesting that MultiBank Group, a global leader in forex and derivatives trading with over $20 billion processed daily might be gearing up to enter the cryptocurrency space.
Unverified reports claim that MultiBank Group, a global leader in forex and derivatives trading with over $20 billion processed daily, is developing its own utility token, MBG, which could launch as early as 2025.
If true, this move would position MultiBank as one of the first major regulated financial institutions to tokenize parts of its operations, combining web3 technologies with traditional finance.
Sources close to the matter say that MBG is being designed to offer exclusive trading benefits to those who participate. Holders of the token could gain access to discounted transaction fees, unique trading features within the MultiBank platform, and even staking rewards linked to the group’s overall profitability.
These perks could encourage both retail and institutional clients to participate in the long term. Speculation around the tokenomics has also been heating up, with rumors pointing to an aggressive buyback-and-burn strategy.
According to unverified reports, MultiBank plans to buy back and burn 50 million USDT worth of MBG tokens in its first year alone. Over time, up to 50% of the total token supply might be phased out, creating a deflationary model rarely seen among institution-backed digital assets.
This approach could help to tighten supply and drive up the token’s value. If the rumors are true, they could also have implications for competitors in the crypto space, such as eToro, whose stock prices have seen a minor setback amid the speculation.
On Crypto Twitter, opinions are divided on whether CeFi can coexist with the ideals of DeFi, and if the rumours are true, will decentralization purists prefer a token from a traditional institution.
The rumors have also led to attention being paid to recent trademark filings for “MultiBankChain” in Switzerland.
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