USC to kick-start trading of digital assets, says UBS

Chris Purves says first test trades using utility settlement coin likely in first half of 2020

Christopher Purves
Chris Purves: “…it was very clear to us that until you have that cash-settlement rail upgraded, you are going nowhere”

Banks experimenting with blockchain technology have already found ways to turn various assets – from shares to fine art and real estate – into digital tokens. What’s missing is a way to exchange those tokens for cash and confirm the identity of the new owners.

UBS is trying to solve the first of these two missing elements with the utility settlement coin (USC) project. 

“If you can get tokenised identity, tokenised products and tokenised cash settlement working together, then you are off and

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