Wall Street Journal: UBS Group launches blockchain-based trade settlement platform

According to recent media reports, a group of financial companies headed by UBS group AG are planning to use bitcoin-like tokens to settle cross-border transactions, which is the biggest advancement in using emerging blockchain technology. one. The 14 companies include major banks in the US, Europe and Japan, and a new company has been set up to control the development of this token, known as the Utilities Billing Coin (USC). Together they invested 50 million pounds (about $63.2 million) in Fnality International.