Finextra Research: Latest fintech news, analysis, interviews, features and opinion by industry experts

News

Big banks create Utility Settlement Coin company

Some of the world's biggest financial services firms - including Barclays, Nasdaq and UBS - have pumped £50 million into a new venture building a Utility Settlement Coin (USC), an asset-backed digital cash instrument implemented on distributed ledger technology.

03 June 2019

News

Top banks to spend £50 million on digital coin project - Reuters

Several of the world's largest banks are plotting a £50 million investment in a new digital cash settlement system, according to a report from Reuters.

17 May 2019

News

Clearmatics raises $12 million for blockchain R&D

Blockchain R&D firm Clearmatics has raised $12 million as it prepares for the launch of a Protocol Provider service next year to support the go-to-market of the Utility Settlement Coin Project, a consortium of 17 banks and financial institutions creating a new digital cash instrument collateralised by central bank money.

11 October 2018

News

BofE confirms revamped RTGS will be able to interface with distributed ledgers

The Bank of England has confirmed that the rebuild of its real-time gross settlement (RTGS) platform will be able to interface with systems running distributed ledgers following proof-of-concept trials with four fintech firms.

23 July 2018

News

Bank of England sets up Fintech Hub; works with firms on DLT interface to RGTS

The Bank of England is establishing a new Fintech Hub as a central point of contact for engagement with startups and to drive new technological developments within the Bank.

23 March 2018

News

UBS wins big bank backing for Utility Settlement Coin concept

BNY Mellon, Deutsche Bank, Icap and Santander have joined with UBS and Clearmatics to advance the Utility Settlement Coin, an asset-backed digital cash instrument implemented on distributed ledger technology.

24 August 2016

Company announcement

OpenGamma and Clearmatics demo blockchain PoC

Clearmatics and OpenGamma demonstrated a proof-of-concept showing how two counterparts can collectively value in real-time a portfolio of FX swaps using blockchain technology adapted from the Ethereum codebase.

28 April 2016

News

Future Money Focus: Robert Sams, Clearmatics

An ex-hedge fund manager who spent a decade trading interest rate derivatives is now jumping headfirst into the world of the blockchain with his newest venture, Clearmatics, a clearing and settlement technology for financial OTC markets based on a distributed ledger.

19 March 2015