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Reuters: Major Banks Will Invest $50 Million In Digital Cash Settlement

Liang CHE

Summary: According to Reuters, several of the world's largest banks are investing about $50 million to build digital cash systems using blockchain technology to solve problems in financial transactions. Previously, Reuters had disclosed a project called “Utilities Settlement Coin (USC)”, originally proposed by Swiss bank UBS and London technology startup Clearmatics in 2015. It aims to ...

According to Reuters, several of the world's largest banks are investing about $50 million to build digital cash systems using blockchain technology to solve problems in financial transactions. Previously, Reuters had disclosed a project called “Utilities Settlement Coin (USC)”, originally proposed by Swiss bank UBS and London technology startup Clearmatics in 2015. It aims to develop a system that makes clearing and settlement of financial markets more efficient.

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