utility settlement coin

The banks are planning to develop a new digital cash to serve as a standard for financial trades settlement.

HSBC, Barclays and Others Join Blockchain-Based Project to Create a New Digital Currency
August 31st, 2017

Six of the world’s biggest banks teamed up to create a new digital currency ‘utility settlement coin’ for clearing and settling financial transactions.

UBS, BNY Mellon, Deutsche Bank and Santander Partner with Clearmatics to Launch ‘Settlement Coin’
August 24th, 2016

The banks are planning to develop a new digital cash to serve as a standard for financial trades settlement.