Today
Reuters reported that banks are in the process of investing $50 million in the institutional digital currency project previously called the “Utility Settlement Coin” (USC). UBS initiated the USC in conjunction with London developer
Clearmatics, which is also a shareholder.
The most recent figure for the number of USC bank members was 17 with the last publicly announced list of participants as Barclays, BNY Mellon, Canadian Imperial Bank of Commerce, Credit Suisse, Deutsche Bank, HSBC, ICAP, MUFG, NEX, Santander, State Street and founder UBS.
CLS the systemically important foreign exchange clearinghouse is rumored to be a member. Earlier this year Ledger Insights was told a USC launch is expected in 2020.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
