Global banking giants Deutsche Bank and SC Ventures have joined forces to pilot a cutting-edge system enabling seamless communication between blockchain-based transactions, stablecoins, and central bank digital currencies (CBDCs). Emulating the model of SWIFT's messaging layer in traditional banking structures, the collaboration is advancing the testing phase, focusing on transferring and exchanging USDC stablecoins. Their endeavors are channeled through the Universal Digital Payments Network (UDPN), a permissioned blockchain system managed by a coalition of leading banks, financial institutions, and advisory firms.
