Big banks are launching a blockchain trade platform powered by ‘Bitcoin-like’ token

Big banks are launching a blockchain trade platform powered by ‘Bitcoin-like’ token
ôîòî ïîêàçàíî ñ : thenextweb.com

2019-6-3 13:22

The banking industry is hell-bent on taking over the nascent blockchain and cryptocurrency market. A group of financial firms led by UBS Group AG is eyeing blockchain technology for settling cross-border trades worldwide with its own “Bitcoin-like” token.

The 14 firms – including Barclays, Nasdaq, Credit Suisse Group, Banco Santander, ING, and Lloyds Banking Group – have registered a new entity to control the devleopment of the token, dubbed ‘utility settlement coin’ (or USC for short), The Wall Street Journal reports. The financial giants have poured over $60 million into the new company, called Fnality International. The token, which has…

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