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....
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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....
Bradesco, one of the biggest banks in Brazil, has stated it does not have plans to enter the cryptocurrency market in the near future. In an interview, Bradesco CEO Octavio de Lazari Junior stated that the company was currently not interested in launching crypto services to its customers, considering the cryptocurrency market will be “very small.”
Bradesco Won’t Offer Cryptocurrency Services In Near Future
While many neobanks and traditional private banks are launching crypto investment services as part of their portfolio to keep customers using their....
Toyota Financial Services and R3 Consortium have announced the start of their collaboration on research and development of Blockchain applications. Uniting over fifty of the biggest banks and corporations in the world the R3 Consortium seeks how to incorporate Blockchain solutions in the financial and nonfinancial sectors. Applying the Blockchain. When the consortium was first created, it appeared that the world’s banks and financial institutions were the earliest to become fascinated by the technology. No wonder, as the world got to know about the Blockchain primarily because of the....
This article has been updated with additional information. Twelve additional banks have joined the blockchain consortium led by startup R3CEV. New entrants to the group include Banco Santander, Danske Bank, Intesa Sanpaolo, Natixis, Nomura, Northern Trust, OP Financial Group, Scotiabank, Sumitomo Mitsui Banking Corporation, US Bancorp, Westpac Banking Corporation and BMO Financial Group. The consortium, announced in September, is focused on proof-of-concept experimentation and the development of standards for blockchain tech. Its creation followed a series of workshops and meetings....
A recent report by Banco Santander discusses the potential impact of Bitcoin adoption on Brazilian banking and financial sector. The number of reports discussing Bitcoin’s impact on mainstream banking and financial sector is overwhelming. Adding to the list is yet another report focused on Brazil, published by Banco Santander. The report titled “Brazil: Banks and Financial Services – To Bitcoin or Not to Bitcoin?” is a result of last month’s meeting with Banco Santander, Mercado Bitcoin — the leading Latin American Bitcoin exchange and local investors. The meeting revolved around the....