UBS

Basics

• From Forbes Blockchain 50 (Apr 16, 2019):

"The Swiss bank’s most ambitious project so far is Utility Settlement Coin (USC), which would allow central banks to use digital cash instead of their own currencies to move money to each other. It’s a bold play—if central bankers start using crypto for big transfers with each other, it could make them more willing to move their own national currencies onto a blockchain. UBS’ partners in USC include BNY Mellon, Deutsche Bank and Santander. Full profile"

• From Forbes Blockchain 50 (19-2-2020):

"UBS’ utility settlement coin became a reality in June, when the Swiss bank led a consortium of 14 financial institutions, including Barclays, Nasdaq and Santander, in a $63.2 million investment to launch a new company, Fnality International. The spinoff will control development of the Utility Settlement Coin, a trade settlement vehicle that reduces the time and cost it takes to process a transaction."

Main Links

• Has said it will use/build on Ethereum, Hyperledger Fabric, Quorum and Corda (still as of 19-2-2020)
• Member of the EEA.

• ConsenSys announced (19-4-2021) a $65m fundraising round from JPMorgan, UBS, Mastercard and Filecoin’s ProtocolLabs.

Current employees

• Key leader: Sam Chadwick, head of blockchain (still as of 19-2-2020)

Past employees

• Nick Gustafson; now head of trading at Circle
• Digital Asset Research claims (7-3-2020) their team has 'experts' from, among other 'big names', this company.