UBS eases transactions via blockchain

The world’s largest financial services company considers blockchain to secure computer systems
05 December 2017   706

In a patent application released by the U.S. Patent and Trademark Office last Thursday, UBS unveils how it might use a distributed ledger to validate transactions.

UBS intends to create a permanent record of every action committed on the chain through blockchain. According to the application, company will use smart contracts to automatically register a record that is added to the chain. When the record is added, the user will automatically receive a notification sent by the same contract.

UBS also assumes that it could put the smart contract on the same blockchain that stores the data being added or develop two separate blockchains: one to store the data, and one to hold the smart contract monitoring data additions.

The company has long been interested in blockchain, the company had already presented a trade transaction platform built on a blockchain in partnership with IBM in 2016. Called Batavia, the project has been expanding with four major banks joining the effort near the beginning of October 2017.

Boerse Stuttgart to Launch Crypto Trading Platform

SolarisBank has a license to provide banking services in Germany and will become the banking partner of the exchange
13 December 2018   82

In the second half of 2019, the second largest stock exchange in Germany, the Börse Stuttgart Group, with the support of fintech company solarisBank, will launch a platform for cryptocurrency trading.

The official press release notes that solarisBank has a license to provide banking services in Germany and will become the banking partner of the exchange.

At the initial stage, the platform will support Bitcoin and Ether, and in the future, various tokens that will produce its own ICO-service of the exchange and will also be available in secondary markets.

Access to the trading platform will be available to both retail and institutional traders, and it will differ little from the existing securities trading platform.

In addition, the Boerse Stuttgart Group is awaiting approval by the regulator for the launch of a multilateral trading platform for cryptocurrencies, which will allow to compare the applications of buyers and sellers using electronic systems.

In April of this year, Sowa Labs, the Fintech division of the Stuttgart Stock Exchange, reported on the work on the Bison application for cryptocurrency trading. Its launch was expected in September, but so far has not yet taken place.

SolarisBank is also a partner of the Bitwala blockchain-start-up, which on the eve announced the launch of its updated cryptocurrency service offering users a single bank account with support for Bitcoin and Fiat.