Cross-border payments on the blockchain are here! UBS introduces UBS Digital Cash, supporting USD/EUR/CNYcoin..multiple legalcoin transfers.

UBS (UBS) announced on November 7 that it has successfully developed and piloted UBS digital cash and realized cross-border payments with multiple coins based on the Block chain. (Synopsis: UBS launched the first generation of coin-based fund "On-chain Ethereum", what is the reason for TradFi to choose ETH?) (Background supplement: UBS Group Hong Kong debuts "coin equity"!) Reasons for choosing Ethereum: Enhance transparency and reduce transaction fees) UBS Bank (UBS) announced on November 7 that it has successfully developed and piloted UBS digital cash: UBS has developed and successfully piloted UBS digital cash, a Block chain-based payment solution designed to improve payment efficiency, transparency, and programmability of capital flows for corporate and institutional customers. Enabling real-time payment processing UBS noted in a press release that cross-border payments often suffer from latency issues, resulting in the dispersion of corporate Liquidity funds. The Block Chain payment solution through digital cash will enable real-time processing of cross-border payments, and businesses will be able to easily manage daytime funds Liquidity. In the pilot, UBS has successfully traded with its multinational customers and banks, including domestic transactions in Switzerland and cross-border payments in USD, CHF, EUR and People's Coin, and will further expand and develop digital cash services in the future. In this regard, Andy Kollegger, Head of Institutional and Multinational Banking at UBS, emphasized: "The future goal of UBS Digital Cash is to help our customers make cross-border payments in a more efficient and transparent way. Cross-border payment solutions based on the Block chain make UBS a strategic priority, and with the success of this pilot, we have taken an important step. At the same time, Xiaonan Zou, head of UBS's digital asset department, added: "We believe that interoperability between UBS digital cash and other digital cash initiatives is critical to the financial industry, and in addition to their role in correspondent banks, they have the potential to simplify the settlement process of tokenized assets in the Capital Market." How does UBS Digital Cash work? According to UBS, UBS Digital Cash uses a private block chain in the payment process, so only licensed customers will be able to gain access. At the same time, these settlements will be carried out through Smart Contract and booked through the Block chain, and the system will operate around the clock, regardless of the type of coin. Finally, UBS added: "UBS Digital Cash complements various market initiatives in which UBS participates, such as the Swiss National Bank-led Helvetia Project, which develops the wholesale Swiss Franc Central Bank digital coin (wCBDC) project, and the Agorá Project, led by Bank for International Settlements (BIS) and seven Central Banks, aiming to free up Central Bank funds for cross-border payments and coin-based deposits from commercial banks. Related reports BOC International Cooperation UBS, issuance "200 million people's coin tokenized bills", the first case of a Chinese bank UBS: "encryption coin ETF" capital outflow in April will hit a record high! A total of 417 million magnesium has flowed out so far this month Polkadot|Bloomberg data: Goldman Sachs, JPMorgan Chase, UBS and Merrill Lynch, have entered a "Polkadot ETP" (Block chain cross-border payment is coming! UBS Launches UBS Digital Cash: Support USD/EUR/PEOPLE'S COIN: . This article was first published in BlockTempo's "Dynamic Trend - The Most Influential Block Chain News Media".