A group of financial firms led by UBS plans to start using a bitcoin-like token to settle cross-border trades, one of the biggest developments yet. Fresh off a $63 million fundraise, execs at bank blockchain consortium Fnality shed some light on the often-secretive project's plan to tokenize fiat. Ex-CEO of UBS and board member of one of Switzerland's first licensed crypto banks, says the traditional banking industry is starting to take.
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