Standard Chartered and Deutsche Bank Make History with Stablecoin Swaps on UDPN Blockchain

Standard Chartered and Deutsche Bank Successfully Execute First Stablecoin Swaps on UDPN Blockchain

It seems like a match made in banking heaven. SC Ventures, Standard Chartered Bank’s venture capital arm, and the mighty Deutsche Bank have come together to execute the first stablecoin swaps on the Universal Digital Payments Network (UDPN). Talk about a digital asset power couple!

UDPN, a blockchain-based messaging system, supports government-regulated digital currencies and central bank digital currencies (CBDC). It’s like the ultimate wing-man for the world of finance.

In this groundbreaking collaboration, SC Ventures conducted a real-time on-chain swap test between USDC and EURS stablecoins, all visible on public EtherScan. They even signed it with their own private key – talk about a show of confidence!

Thorsten Neumann, CTO of SC Ventures, couldn’t contain his excitement. He said, “This initiative brings the industry together to identify opportunities to unlock economic value in newly emerging digital currencies.” Clearly, it’s time for financial service providers to put on their dancing shoes and experiment with stablecoins and CBDC.

• Ark Invest sells $3.3 million of Coinbase stock and $2.5 million of GBTC
• Beware of the Rug Pull Safereum Devs Allegedly Unlock and Dump Native Token
• The legal risks behind the popularity of ‘Internet celebrity KOL issuing coins and promoting the fan economy Friend.tech and TimeStore going viral.

Now, let’s talk tech. SC Ventures used code leveraging UDPN SDKs and APIs, while Deutsche Bank opted for a graphical user interface (UI). It’s like a high-tech dance-off – who will deliver the smoothest moves?

Rafael Otero, CTO of Deutsche’s Corporate Bank division, explained that this collaboration is the “next logical step” in the evolution of financial transactions. It’s like they’re busting out their finest moves on the dancefloor of the decentralized future global economy.

But hey, let’s not forget the real purpose of this grand partnership. The digital currency transfer proof-of-concept took several weeks to demonstrate UDPN’s capability to solve the challenge of interoperability in cross-border payments. They’re like the Fred Astaire and Ginger Rogers of the blockchain world, gracefully gliding through the challenging terrain of global transactions.

And they’re not stopping there. This collaboration aims to foster greater collaboration among stakeholders and explore other exciting topics, like facilitating gasless transactions on the blockchain. It’s like they’re constantly pushing the boundaries and dancing their way to financial innovation.

UDPN, with its messaging system for cryptocurrencies, makes transactions faster and removes the need for reconciliations. It’s like a choreographed routine that leaves no room for errors. Spearheaded by Red Date Technology, the co-founder of the Chinese Blockchain-Based Service Network (BSN), this UDPN blockchain initiative has brought together a powerful lineup of organizations that are ready to take center stage.

So, fellow digital asset investors, let’s give a round of applause to this dynamic duo, SC Ventures and Deutsche Bank. They are waltzing into the future of finance, making blockchain history, one smooth move at a time.

Now, tell us, what do you think about this exciting collaboration? Are you ready to join them on the dancefloor of digital assets? Let us know in the comments below!

We will continue to update Blocking; if you have any questions or suggestions, please contact us!