Portugal
Cuatrecasas advises Bison Bank on the issuance of Portugal’s first stablecoin, marking a legal and technological milestone.
May 18, 2026
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SubscribeCuatrecasas advised Bison Bank on the process leading to the issuance of the “Bison Bank Electronic Money Token,” Portugal’s first stablecoin. This cryptoasset is available in two versions: the euro-indexed EUB and the U.S. dollar-indexed USB.
Bison Bank, a Portuguese institution specializing in investment banking, depository services, corporate advisory, and cryptoasset services, developed the stablecoins to facilitate fast, secure, and transparent international payments and transfers. The bank developed them in adherence with the European Union’s new Markets in Cryptoassets Regulation (“MiCA”), as well as with sector-specific legislation governing banking and electronic money.
The Cuatrecasas team advising Bison Bank was led by Technology and Telecommunications lawyer Nuno Lima da Luz and included Finance lawyer Tomás Gomes da Silva. University professor Paulo Cardoso do Amaral, PhD in Information Systems, also participated as an external consultant, advising on the technical and strategic aspects of the project.
Reflecting on the operation, Nuno Lima da Luz stated: “This was an exciting but complex matter, as we needed to align traditional financial regulation with the emerging challenges posed by MiCA. Our assistance to Bison Bank entailed designing the operational and legal structure and drafting the white paper, ensuring the highest level of rigor at every step. We are delighted with the outcome and with the continued opportunity to collaborate with Bison Bank on such innovative projects.”
In 2022, Cuatrecasas also advised Bison Bank on the process of registering its subsidiary, Bison Digital Assets, with the Bank of Portugal for virtual asset activities.
May 18, 2026
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