UBS, one of the world's largest banks, has conducted an experiment to see if public Ethereum can be used for banking while still adhering to strict financial regulations.
The test, conducted in collaboration with Nethermind, aimed to determine whether big banks can use Ethereum without needing closed private blockchains.
If successful, the upside is massive, as it could enable public Ethereum rails, bank-level rule checks, approved wallets only, and approved transaction paths.