UBS & Co to Create DLT Trade-Settlement Platform

The platform will be powered by “bitcoin-like token” USC, which is designed to reduce the time and cost of cross-border payments
04 June 2019   217

The Swiss financial holding UBS, together with several large companies, announced the launch of a token for cross-border payments settlements. This is reported by the WSJ.

It is reported that the development of a “bitcoin-like token” USC (utility settlement coin) has been underway for several years, and the WSJ has already called the project one of the largest initiatives in the blockchain sector.

In particular, 14 companies joined the project, including the British financial conglomerate Barclays, the American stock exchange Nasdaq, the Swiss bank Credit Suisse, the American holding company BNY Mellon and the German banking concern Commerzbank.

Participants in the initiative, led by UBS, founded Fnality International and invested £50 million in the development of a new token.

USC is designed to reduce the time and cost of cross-border payments, providing a payment mechanism and a means of transmitting information about transactions.

As noted by Fnality International, the company is already negotiating with regulators from different countries to obtain the appropriate permits. It is expected that the token will begin to fully use within the next year.

It became known in 2017 that UBS began the development of USC.

In addition, UBS, together with IBM, founded the Batavia trading blockchain platform, on which it carried out the first cross-border transactions last year.

Poloniex to Bring Back the Trollbox

According to Poloniex owner, the "most frequent request has been, “BRING BACK THE TROLLBOX”, a general topic chat  
19 June 2019   180

Due to numerous requests from users, the Bitcoin exchange Poloniex activated a general chat, better known as Trollbox.

You’ve been asking for it and we’re excited to tell you IT’S HAPPENING: Trollbox is back! Poloniex’s Trollbox is the original forum for traders to talk all things crypto. Our legendary mods are ready to go, armed as always with the mighty Banhammer to maintain order.

Poloniex Team

From now on, traders can again communicate on a wide range of topics without leaving the stock exchange, and moderators will use the legendary ban-hammers in case of violation of the rules.