According to Union Bank of Switzerland (UBS), Bitcoin’s extreme volatility and instability put too much limitations on it to be considered as a mainstream asset class.
This institutional platform will provide its customers an easy exposure to the cryptocurrency market with their products and services while ensuring security.
The cost reduction is a critical issue for the successful future of the financial services industry. Sergio Ermotti, UBS Group CEO, believes that blockchain has the potential to change the situation, but expects it to take up to ten years.
One of the biggest ICO sales to date, Bankera has announced that the goal of becoming a bank for the blockchain era and a one-stop store for all financial services will be delivered ahead of schedule.
Four banking giants have joined IBM-led and UBS-backed initiative to create a new global trade finance platform Batavia.
New platform designed to support trade finance transactions.
Six of the world’s biggest banks teamed up to create a new digital currency ‘utility settlement coin’ for clearing and settling financial transactions.
J.P. Morgan, Chase, Intel, Microsoft, Banco Santander and other firms have established an alliance to develop solutions for financial companies using Ethereum blockchain.
A group of eight banks, including UniCredit, HSBC, and UBS, have finally tested a distributed ledger prototype for bonds exchange using Intel’s blockchain platform.
The banks are planning to develop a new digital cash to serve as a standard for financial trades settlement.