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Financial institutions working on a Utility Settlement Coin

Aug, 24, 2023 Hi-network.com
Deutsche Bank, Santander, ICAP, and BNY Mellon, joined the Swiss UBS in her plans to test 'Utility Settlement Coin (USC)'. USC would be an asset-backed digital cash instrument implemented on distributed ledger technology (blokchain) for use within global institutional financial markets. USC is fully backed by cash assets held at a central bank. Spending a USC will be spending its paired real-world currency.

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