R3 Blockchain Consortium Adds First Chinese Partner
The R3 blockchain consortium continues to attract attention in the financial world, as they have welcomed their first Chinese member in the form of Ping An Group. This partnership has nothing to do with the consortium seeking US$200m in additional funding, though. In a rather surprising turn of events, the R3 blockchain consortium added its first Chinese....
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The operator of China’s interbank trading system has joined the R3 blockchain consortium. The China Foreign Exchange Trade System (CFETS), founded in the early 1990s, functions directly under the auspices of the People’s Bank of China, the country’s central bank. As such, it functions as the platform for interbank trading between Chinese banks and those based abroad. As part of the consortium, CFETS officials will work with other financial institutions worldwide on blockchain development initiatives. Zaiyue Xu, executive vice president of CFETS, said in a statement: “CFETS is committed to....
The banking- and finance-centric blockchain consortium led by New York-based startup R3 will now include its first ever Chinese member, the Ping An Financial Services Group. China’s second largest insurer, the Ping An Group has become the first Chinese member of the global banking blockchain consortium led by fintech startup R3. The R3-led blockchain effort was notable in its lack of Chinese members, until now. Ping An is the largest non-state-owned financial entity in China, with assets over $765 billion. The financial group has its footprint across different sectors including insurance,....
The private blockchain consortium led by blockchain technology startup R3 has added its newest member in China Merchants Bank, a Chinese banking giant. Guangdong-based China Merchants Bank (CMB), the first commercial bank wholly owned by corporate legal entities in China is now the second Chinese member to join the R3-led banking blockchain consortium. As of March 2016, CMB showed total assets of $838.28 billion and is among the top 10 banks in China and the top 30 banks globally, by assets. Elaborating on CMB’s new endeavor with R3, general manager of CMB’s IT department Tianhong Zhou....
Toyota Financial Services is not your average bank, as the company focuses on automotive financial services. They are also the first player in that particular industry to join the R3 consortium. The R3 Consortium is a collection of several dozen financial institutions all over the world looking to explore blockchain technology. But the group continues to expand, and Toyota Financial Services is their latest member. Merging distributed ledgers with automotive financial services will be quite an interesting experiment. R3 Welcomes Toyota Financial Services. Toyota Financial Services is not....
Arguably, the most talked-about private blockchain consortium around has just had twelve additional banks signing up as members to the R3-led group of global banks looking to tap into and experiment with blockchain technology for securities settlements and payments. New York-based Fintech startup R3 has added 12 more banks as members to its blockchain consortium. The startup also revealed that it is welcoming financial firms that aren't banks such as exchanges, clearing houses, standards bodies and infrastructure companies from Q1 2016. The latest additions to the consortium include: BMO....