"Digital cash is a core component of a future financial market fabric based on blockchain technologies," said head of the Swiss investment bank's head of fintech innovation and strategic investment Hyder Jaffrey.
"There are several digital cash models being explored across the Street. The Utility Settlement Coin is focussed on facilitating a new model for digital central bank cash."
The currency would be linked with global currencies and central bank reserves rather than being a publicly issued digital currency such asbitcoin. :))