Deutsche Bank and United Overseas Bank (UOB) have signed an MOU to expand their cash clearing relationship. The two banks will work together on a number of projects in the Middle East including “blockchain based payments solutions” for financial institutions as well as “digital asset exchanges” between banks.
Deutsche Bank and United Overseas Bank (UOB) have signed an MOU to expand their cash clearing relationship. Though the German lender already provides clearing services for UOB's cross-border payments, this latest move will allow UOB to also use Deutsche Bank as its cash settlement bank for derivatives trades on the Eurex Exchange.