Odaily Planet Daily News UBS said it has successfully piloted a blockchain-based payment system, called UBS Digital Cash, which aims to improve the efficiency of cross-border transactions. UBS said in a statement that transactions with multinational clients and banks were conducted during the pilot, including domestic transactions in Switzerland and cross-border payments in US dollars, Swiss francs, euros and RMB. UBS plans to further expand and develop UBS Digital Cash, which is reportedly using a private blockchain network that can only be accessed by authorized customers.