The Utility Settlement Coin (USC) project was initially designed as a way to minimize the role of clearinghouses, by letting financial institutions pay each other directly using collateral-backed crypto tokens. However, since the collateral associated with those tokens is held by central banks, the project is increasingly being seen as a step toward reimagining how fiat currency could be issued.
Up Next in Blockchain
The Canadian Securities Exchange (CSE) plans to launch a blockchain-based clearing and settlement platform for token sales. The initiative will see the CSE move to list 'Security Token Offerings' through which blockchain-based assets that are explicitly securities would be offered and sold.
Canadian Securities Exchange Taps Blockchain for New Clearinghouse
Additional Wall Street money may start making its way into cryptocurrency investments soon. An American rating agency is set to issue grades for bitcoin and a host of altcoins this week, possibly opening the door for more fund managers to enter the field. Beyond market leader bitcoin, the rating agency will issue grades for ether, Ripple’s XRP, bitcoin cash, Litecoin, and many others.
U.S. Rating Agency to Issue Bitcoin and Cryptocurrency Grades
Bitcoin News - Avi Mizrahi