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Swiss banks claim first binding payment using public blockchain
Three Swiss banks, including UBS, have carried out a binding payment using bank deposits and a public blockchain for the first time, the Swiss Bankers Association said on Tuesday. The payment was carried out as part of a feasibility study on use of deposit tokens by PostFinance, Sygnum Bank and UBS. "This is something really new," said Thomas Frei, head of product innovation at Sygnum Bank. Deposit tokens refer to bank deposits that have been made usable on the blockchain by "tokenizing" them. During the study clients sent tokens on the blockchain that represented bank deposits, settling their respective ... (full story)
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