UBS has launched a blockchain payment system called "UBS Digital Cash". UBS announced that it has successfully piloted a blockchain-based payment system designed to improve the efficiency of cross-border transactions. In a statement, UBS mentioned that the pilot involved transactions with multinational clients and banks, including domestic transactions in Switzerland and cross-border payments made in US dollars, Swiss francs, euros, and Chinese yuan. It is reported that UBS plans to further expand and develop UBS Digital Cash, which operates on a private blockchain network that is currently accessible only to licensed clients.

PANews, November 9, reported that UBS has successfully piloted a blockchain-based payment system known as UBS Digital Cash, aimed at improving the efficiency of cross-border transactions.

In a statement, UBS mentioned that the pilot involved transactions with multinational clients and banks, including domestic transactions in Switzerland, as well as cross-border payments conducted in U.S. dollars, Swiss francs, euros, and Chinese yuan. It is noted that UBS plans to further expand and develop UBS Digital Cash, which operates on a private blockchain network, currently accessible only to authorized clients.

UBS launches blockchain payment system "UBS Digital Cash"