New Digital Payment Network Promises To Make Cross-Border Transactions Faster, Cheaper
Portfolio Pulse from Murtuza Merchant
Standard Chartered Bank's SC Ventures and Deutsche Bank have successfully conducted a Universal Digital Payments Network (UDPN) proof-of-concept, facilitating real-time transactions between USD Coin and EURS stablecoins. The UDPN is a distributed ledger technology system that ensures smooth interactions between regulated stablecoins, CBDCs, and business IT systems. The aim of the UDPN Alliance is to transition from traditional payment infrastructures to streamlined, cost-effective digital payment solutions.
October 23, 2023 | 7:17 pm
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Deutsche Bank successfully conducted a UDPN proof-of-concept, indicating its active involvement in digital payment solutions.
The successful proof-of-concept indicates Deutsche Bank's active involvement in the development of digital payment solutions, which could potentially attract more clients and increase its market share in the fintech sector.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Standard Chartered's SC Ventures successfully conducted a UDPN proof-of-concept, indicating its active involvement in digital payment solutions.
The successful proof-of-concept indicates Standard Chartered's active involvement in the development of digital payment solutions, which could potentially attract more clients and increase its market share in the fintech sector.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
USD Coin was used in the successful UDPN proof-of-concept conducted by Standard Chartered's SC Ventures and Deutsche Bank.
The use of USD Coin in the successful proof-of-concept indicates its potential for wider adoption in digital payment solutions, which could increase its demand and value.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50