ChainCatcher news, according to Ledger Insights, UBS has successfully piloted a blockchain-based payment system known as UBS Digital Cash, aimed at improving the efficiency of cross-border transactions.UBS stated in a press release that the pilot involved transactions with multinational clients and banks, including domestic transactions in Switzerland and cross-border payments in USD, CHF, EUR, and CNY. UBS plans to further expand and develop UBS Digital Cash.It is reported that the system uses a private blockchain network, accessible only to authorized clients.

ChainCatcher news, according to Coindesk, German industrial giant Siemens AG successfully issued and settled tokenized commercial papers using JPMorgan's blockchain payment system Onyx and the private blockchain of SWIAT.On September 13, Siemens issued crypto securities worth 100,000 euros under Germany's Electronic Securities Act (eWpG) and redeemed them three days later. The payment was completed through JPM Coin system on the Onyx network, while the asset transfer was settled on the SWIAT network's "delivery versus payment" (DvP) mechanism. The entire process took only 93 seconds from the confirmation of the transaction by both parties on SWIAT to the final confirmation of asset and payment transfer.This transaction marks the beginning of cooperation between Onyx and SWIAT to develop blockchain-based asset issuance products for commercial banks. The two parties aim to shorten the value chain, enhance transaction flexibility and speed, and ultimately enable scalable applications of blockchain-based financial transactions for commercial banks.

ChainCatcher news, open-source blockchain payment system developer UPCX ($UPC) announced that it will be a major sponsor of the upcoming Asia's largest global cryptocurrency professional gathering WebX2024. WebX2024 is produced by Japan's largest Web3 media CoinPost. The event is scheduled to take place from August 28 to 29, 2024, at the Prince Park Tower Tokyo.During the two-day conference, the UPCX project will set up a booth to showcase the unique features of its payment system, including User Issued Assets (UIA), Non-Fungible Assets (NFA), Decentralized Exchanges (DEX), and the UPCX digital wallet, along with other advanced payment solutions.