UBS to Develop Yet Another ‘Permissioned Blockchain’ for Banks



In April, Bitcoin Magazine reported that UBS was planning to investigate blockchain technology in a new innovation lab based in London. The innovation lab is located in Level39, Europe’s largest technology accelerator space for finance and cyber-securities, and focuses on exploring the role of blockchain technology in financial services.

UBS, a Swiss global financial services company with its headquarters in Basel and Zürich, is the biggest Swiss bank and is considered as the world’s largest manager of private wealth assets, with more than 2.2 trillion Swiss francs (CHF) in invested assets.

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In August, the bank launched a “Future of Finance Challenge” for financial technology entrepreneurs and startups. The Future of Finance Challenge covers a broad range of emerging fintech areas,

Read more ... source: TheBitcoinNews