UBS tests a blockchain payment system, UBS Digital Cash, to enhance cross-border transactions.
Swiss bank UBS has successfully tested a blockchain-based payment system called UBS Digital Cash, aimed at improving cross-border transaction efficiency. The pilot involved transactions in multiple currencies with multinational clients and banks. The system utilizes a private blockchain and smart contracts for secure payments. While UBS plans to further develop the system, it has not announced a specific launch date.
November 07, 2024
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