FILE PHOTO: A UBS logo is pictured on the branch of the Swiss bank in Lucerne, Switzerland, June 14, 2024. REUTERS/Denis Balibouse/File Photo
ZURICH (Reuters) - Swiss bank UBS said on Thursday it had successfully piloted a blockchain-based payment system it has developed to improve efficiency of cross-border transactions known as UBS Digital Cash.
In the pilot, transactions were carried out with multinational clients and banks, including domestic transactions in Switzerland and cross-border payments in U.S. dollars, Swiss francs, euros and Chinese yuan, UBS said in a statement.
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