The Swiss bank is planning to open an innovation lab in Level39's high growth space, HighGrowth:42, to explore the role of blockchain technology in financial services.
The project marks the first time a global bank has focused its efforts on the blockchain, so publicly. UBS states it will also look into distributed ledger and smart contract technologies.
UBS states that the dedicated lab will enable the bank’s team to work alongside other experts managing complex data and risk assessment in volatile markets.