R3 Tests Its Blockchain Network With 11 Leading Banks
Eleven member banks of the R3 consortium, a collaborative group of the world’s largest and most influential banks and financial institutions, including Barclays, BMO Financial Group, Credit Suisse, Commonwealth Bank of Australia, HSBC, Natixis, Royal Bank of Scotland, TD Bank, UBS, UniCredit and Wells Fargo have connected on the centralized....
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A consortium of financial institutions led by startup R3CEV has completed a trial of five different blockchain solutions. The blockchain concepts tests were presented by Eris Industries, Ethereum, IBM, Intel and Chain, according to reports by Reuters and The Wall Street Journal. Preparations began early last month, culminating with the test during the last two weeks of February. Forty banks took part, drawn from the collection of banks that have thrown their support behind the R3-led consortium. A number of those banks have launched trials of their own in addition to the work conducted as....
One of Thailand’s leading commercial banks is working with IBM on applying blockchain to certify official documents. Kasikornbank is seeking to cut operational costs related to recordkeeping, according to Reuters. The bank, one of the largest in Thailand, is reportedly looking to officially integrate the document certification service sometime next year. The work reportedly won’t stop with internal applications, however. Kasikornbank is said to be in discussions with other banks in Thailand, with the hope of establishing collaborative efforts that could see members of the country’s....
Multi-billion dollar financial services corporation D+H states that its development team successfully tested its proof-of-concept Blockchain with Dutch financial company Rabobank. Netherlands-based Rabobank, which has an annual revenue of nearly US$15 billion dollars, collaborated with D+H in running the company’s first preliminary tests with Coin Sciences’ proof-of-concept multi chain Blockchain solution. Rabobank and D+H claim to have acquired the evidence needed to prove that their Blockchain solution is able to process cross-border payments in real-time. The two giants in global....
The Swiss National Bank has successfully employed a wholesale CBDC to settle transactions with five commercial banks, the monetary authority announced. The tests are part of an experiment carried out together with the Bank for International Settlements and Switzerland’s financial services provider SIX.
Swiss Central Bank Tests Integration of Wholesale CBDC Settlement With Private Banks
A wide-range of transactions involving a wholesale central bank digital currency (CBDC) have been processed during the second phase of Project Helvetia, the Swiss National Bank (SNB)....
Italy-based international bank UniCredit saw its shares suspended Monday and 5% losses in overall value as tests showed the country’s banks are still unable to weather financial crises. Unicredit, Banks ‘Plaguing’ Government. In gloom reminiscent of pre-crisis 2008, stress tests conducted by the regulator showed UniCredit, along with other Italian....