Deutsche Bank, SC Ventures Trial SWIFT Messaging Layer For Stablecoins And CBDCs
Portfolio Pulse from Khyathi Dalal
Deutsche Bank and Standard Chartered's SC Ventures are testing a system that enables blockchain-based transactions, stablecoins, and CBDCs to interact with each other, similar to the SWIFT messaging layer in traditional banking. The system was developed by GFT Group and Red Date Technology. It includes transferring and swapping USDC stablecoins on the Universal Digital Payments Network (UDPN), a permissioned blockchain system run by a consortium of banks.
October 26, 2023 | 9:36 pm
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Deutsche Bank is testing a blockchain-based system for stablecoins and CBDCs, which could potentially enhance its digital banking services.
The testing of this new system indicates Deutsche Bank's commitment to digital banking and blockchain technology. If successful, it could enhance their digital banking services and potentially attract more customers, which could positively impact their stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Standard Chartered's SC Ventures is testing a blockchain-based system for stablecoins and CBDCs, indicating its interest in digital banking and blockchain technology.
The testing of this new system shows SC Ventures' interest in digital banking and blockchain technology. If successful, it could enhance their digital banking services and potentially attract more customers, which could positively impact their stock.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80