Major Utility Settlement Coin Project Raises $63 Mln for Commercial Realization
The Utility Settlement Coin (USC) project — led by some of the world’s largest banks — has announced the creation of a new firm and closure of an accompanying $63.2 million financing round. The USC platform aims to facilitate the issuance of blockchain-based currencies in the commercial and central banking sector worldwide. USC project partners have now become the founding shareholders in a new firm representing the project’s commercial realization. They include some of the world’s major banking players: Banco Santander, BNY Mellon, Barclays, CIBC, Commerzbank, Credit Suisse, ING, KBC Group, Lloyds Banking Group, MUFG Bank, Nasdaq, Sumitomo Mitsui Banking Corporation, State Street Corporation and UBS.
Facebook will announce cryptocurrency this month
The company is planning physical ATM-like machines where users can buy the currency, the report says. Employees working on the project will be able to take their salary in the new currency.