Deutsche Bank, Icap, Santander and BNY Mellon have backed the UBS project
Deutsche Bank, Icap, BNY Mellon and
Santander have endorsed UBS’s Utility Settlement
Coin project, a new model for digital central bank cash based
on blockchain technology.
"Cash is a leg to almost every trade, so
this project is key to unlocking the benefits that the industry
can gain from distributed automation technology in clearing,
settlement and collateral management," said Robert Sams, chief
executive officer of Clearmatics Technologies, the tech firm
that worked with UBS on the project.
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