UBS instance of financial institution
Research and development
Blockchain
UBS has been an early adopter regarding the use of blockchain technology in financial services. In April 2015, UBS opened an innovation lab at the Level39 technology accelerator space in London.In August 2016, UBS announced that it will team up with BNY Mellon, Deutsche Bank, Banco Santander, brokerage company ICAP and the fintech company Clearmatics, to promote UBS's "Utility Settlement Coin" (USC). The USC is a blockchain-based digital currency that financial institutions could use to transact securities with each other, bypassing the traditional settlement processes which is ongoing.
type of example of manifestation of representation of