Swiss commercial bank UBS has announced it has teamed up with six other commercial banks for the next phase of its digital currency project.
Barclays, CIBC, Credit Suisse, HSBC, MUFG and State Street have now pledged their commitment to the project, which is set to launch in 2018 after phase three is complete. The utility settlement coin (USC) project, dubbed a “pioneering form of digital cash” by UBS, began in 2015 with a partnership with Clearmatics Technologies.
During phase two of the pr
- EC’s Cyprus ‘failure’ undermined Eurozone central bank independence – Demetriades
- Reserve management practices are splintering
- Caputo quits as Argentina central bank chief
- Female regulators increase stability of the financial system, IMF paper finds
- Booming US economy set against ‘fragile’ markets – BIS review