UBS Successfully Pilots Blockchain-Based Payment System for Cross-Border Transactions

Nov 7, 2024, 01:45 PM

UBS, Switzerland's largest bank, has successfully piloted a blockchain-based payment system. The new system, known as UBS Digital Cash, aims to enhance financial transactions by enabling real-time global payments in multiple currencies. This initiative represents a significant step in financial innovation and could inspire other banks to adopt blockchain technology for efficient cross-border transactions.