A Swiss startup launched by several former UBS bankers has raised $104 million in a bid to establish a regulated crypto-friendly bank.
UBS doesn't believe bitcoin constitutes money or a viable asset class yet, but it could in the future.
The CEO of UBS Group AG endorsed blockchain technology in an interview, suggesting that it is "almost a must" for business.
The Batavia blockchain trade finance platform has completed a pilot that conducted live cross-border transactions involving corporate clients.
Swiss banking giant UBS and a group of major banks plan to launch a live application later this month using the ethereum blockchain.
In a patent application released by the USPTO, money manager UBS indicated it was considering using smart contracts to validate transactions.
UBS chief investment officer Mark Haefele says the world's largest money manager will not include bitcoin investments.
UBS chief global economist Paul Donovan has compared bitcoin to the Netherland's 1600s tulip crisis, but noted he was a fan of blockchain technology.
The CEO is the latest to raise doubts about cryptocurrency, which also banking on blockchain to make his business simpler and easier.
A new report from UBS says that firms and early adopters should be considered by investors hoping to ride the "blockchain wave"
