Swiss bank UBS (UBSG.S) announced on Thursday the successful completion of a pilot for its blockchain-based payment system, UBS Digital Cash, designed to improve the efficiency of cross-border transactions. The pilot involved transactions with multinational clients and banks. The pilot also enabled liquidity transfers between various UBS entities. UBS plans to further develop and expand UBS Digital Cash, which offers enhanced visibility into cash positions to help firms manage intraday liquidity and adjust liquidity buffers more effectively. UBS Digital Cash operates on a private blockchain accessible only to approved clients.
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