Brazil’s Bank Itaú Joins R3 Blockchain Consortium
São Paulo-based Itaú Unibanco has become the first Latin America-based bank to join blockchain and distributed ledger consortium R3CEV. Launching last September with nine global banking partners, Itaú is the 45th global bank to join the R3 consortium, following South Korea’s Hana Financial and Japan's SBI Holdings. Itaú saw R$21.9 billion ($6.1bn) in profits in 2014 as well as R$360 billion ($101bn) in assets under management, according to its latest annual report. In statements, Itaú general director for technology and operations Márcio Schettini said that Itaú joined to contribute to....
Related News
Itaú Unibanco, the largest private sector bank in Latin America has announced a partnership agreement with private blockchain consortium R3, making it the first Latin American bank to join the banking blockchain collective. Joining the ranks of over 40 other global banks, Itaú Unibanco, a Sao-Paulo based bank has joined distributed ledger or blockchain consortium R3CEV, the New York-based startup that is developing blockchain solutions for the financial industry. In a statement, Márcio Schettini, general director for Technology and Operations at Itaú Unibanco spoke about the intent to....
Brazilian Banking Giant Banco Bradesco & Toyota Financial Services Join the R3 Blockchain Consortium
Banco Bradesco, one of Brazil’s largest banking and financial services firms has joined the R3-led banking blockchain consortium, R3CEV. So too, has Toyota Financial Services, the financial arm of automotive giant Toyota Motor Corporation. A leading Brazilian bank has joined the banking blockchain consortium led by New York-based R3, an announcement today revealed. Banco Bradesco now becomes the second bank from Brazil, after Itaú Unibanco to join a consortium that counts 50 of the world’s largest banks and financial firms as its members. Itaú is also the largest private sector bank in....
Brazil’s central bank, the Banco Central do Brasil (BCB), is pushing for more time to roll out its central bank digital currency (CBDC). Earlier in May, BCB released a document covering the general guidelines and characteristics of Brazil’s future CBDC. Roberto Campos Neto, BCB’s chief central banker, also stated earlier last year that the country […]
Japan-based Fukui Bank has joined the blockchain consortium for domestic and foreign exchange services launched by Japanese financial services giant SBI Holdings and its subsidiary, SBI Ripple Asia. With its latest addition, the consortium now sees 43 participating members. Announced by SBI Holdings last week, Fukui Bank joins the working group, named “Consortium for Considering Blockchain Technology to Centrally Provide Domestic and Foreign Exchange Services” that aims to develop a blockchain-based remittance infrastructure. The consortium was first announced in August this year, with 15....
ABN Amro has become the latest financial institution to join the R3 blockchain consortium. The Dutch bank is an investor in blockchain startup Digital Asset Holdings and is working with local academics on applications of the technology. The bank has also been doing internal work of its own, leading to speculation earlier this fall that it was developing a bitcoin wallet. As an R3 member, the bank said that it expected to build on its past efforts. Arjan van Os, chief of ABN AMRO’s Innovation Centre, said in a statement: “This is exactly the right time for us to step in. We already spend a....