Barclays, Credit Suisse, Canadian Imperial Bank of Commerce, HSBC, MUFG and State Street are the main names that joined the program initiated by the Swiss Bank UBS, creating their own digital curency "utility setlement coin".
The swiss Bank launched this project in september 2015 in partnership with Clearmatics, one of the start-ups from the Blockchain. The first big names that joined this Project were BNY Mellon, Deustche Bank and Santander. The project also has a known member on the stock exchange market, ICAP, according investopedia.com
The system wich will generate a new digital coin will be born through the Blockchain platform making it easy to buy/sell things very easy. Project is announced to be released on 2018.
Banks are proposing that the developed digital currency should have a mechanism behind it to diminish the volatility that the digital coins are known to have, their values having significant fluctuations from one day to the next.
The cryptocurency market has experienced an impressive development in recent years. On the coinmarketcap platform, which tracks the evolution of digital coins, we find 1098 different digital currencies. Many of these do not have a significant contribution to the cryptocurency market, but the capacity of blockchain technology gives them the opportunity to have a spectacular evolution in a short time.
The total value of the cryptocurency market is currently around 152 billion dollars. The star of the digital coins and the first product of the blockchain technology retain its supremacy. At the time of writing, Bitcoin is worth $ 4,667, with 16.5 million coins in circulation, worth more than $ 72.7 billion.
The second position is Ethereum, whose value is currently around $ 331, with circulating 94.3 million coins worth more than $ 29 billion
I am peacefully waiting for that moment
I think we are all waitting to see the next move from the Banks! :)