UBS has launched a blockchain-based solution for cross-border payments, aiming to improve the efficiency and accessibility of international money transfers.

Benefits of Blockchain Technology

By leveraging blockchain technology, UBS aims to:

• Reduce fraud
• Lower transaction costs
• Enhance transparency in cross-border transactions

Real-Time Transactions

The ability to execute transactions in near real-time mitigates the risks associated with currency fluctuations.

Increasing Acceptance of Instant Payment Systems

Approximately 63% of consumers are using instant payment services for cross-border transactions.

Secure Transactions with UBS Digital Cash

UBS Digital Cash operates on a private blockchain network, ensuring secure transactions. Settlements are executed through smart contracts, and transactions are recorded in a digital ledger.

Handling International Transactions in Various Currencies

UBS Digital Cash can handle international transactions in various currencies.

Transforming Cross-Border Payments

The financial industry's adoption of blockchain technology is reducing costs, enhancing transparency, and driving further advancements in efficiency and accessibility.