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Banks testing the Blockchain for new central banks cryptocurrencies


The Called Utility Settlement Coin (USC) is a partnership among the biggest World's financial institutions, including Barclays, CIBC, Credit Suisse, HSBC, MUFG State Street, UBS, BNY Mellon, Deutsche Bank, Santander, NEX. It is currently testing a Blockchain-based platform aimed at performing a wide variety of transactions with each other using collateralized assets on a custom-built blockchain. The USC project leads to believe the World's central banks are thinking about adopting their own cryptocurrencies nd releasing them in a new building financial circuit:

"It may well inform the way central banks choose to move things forward. We see it as a stepping stone to a future where central banks issue their own [cryptocurrency] at some point." (Hyder Jaffrey, UBS director of strategic investment and fintech innovation)

(Coindesk)
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