Swiss Banking Giant UBS to Open Blockchain Research Lab in London

The Swiss banking giant UBS is about to dip its toe further into cryptocurrency related technology. The bank will open a blockchain research lab in London later this month.

The Swiss banking giant UBS is about to dip its toe further into cryptocurrency related technology. The bank will open a blockchain research lab in London later this month, the Wall Street Journal reports.

The lab, which will be hosted by fintech accelerator Level39, is set to become a fertile space for exploration and experimentation with blockchain technology for both experts at UBS, as well as the wider fintech community, the bank said. As such, UBS hopes to develop new technologies that could be useful for the finance industry, according to Chief Information Officer Oliver Bussmann:

“Fostering an open and collaborative environment between banks, start-ups and the investor community is essential to ensure we focus on promoting synergies between us, accelerate innovation opportunities and create real value for the industry.”