R3 Consortium Adds Its First African Bank, Member of Barclays Group
The goal of the R3 Consortium to form a global partnership to design and apply blockchain’s distributed and shared ledger-inspired technologies to financial markets got a boost as it adds its first African institution to its membership. South Africa’s Absa Bank Ltd, a member of the Barclays Africa Group Limited, is the first African banking group to join the global R3 blockchain consortium which has already partnered with some of the world's leading banks to design and deliver advanced distributed ledger technologies to global financial markets. Absa will collaborate with other SA banks.....
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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....
One of South Africa's largest banks has joined the global blockchain consortium led by R3CEV. Absa Bank, a subsidiary of Barclays Africa, announced today that it would be joining the 40-plus consortium, which includes a range of banks and non-bank financial institutions worldwide. Recent participants have included Chinese bank Ping An and the financial arm of automaker Toyota. The partnership is said to include an effort to develop a broader working group within South Africa focused on regional distributed ledger networks, with the goal of creating "the continent’s first distributed....
Three more banks have announced joining the Distributed Ledger Group (DLG) and R3 Blockchain consortium that include Mizuho Bank, UniCredit and Nordea. What started out as 9 banks has already grown to a total of 25 major financial companies collaborating within the scope of the R3 Consortium. The roster now consists of Barclays, Bank of America, BBVA, BNY Mellon, Commonwealth Bank of Australia, Citi, Commerzbank, Credit Suisse, Deutsche Bank, J.P. Morgan, Goldman Sachs, HSBC, Mitsubishi UFJ Financial Group, Morgan Stanley, Mizuho Financial Group, National Australia Bank, Nordea, State....
Blockchain technology proponents are staking claims in Africa, paying special attention to banks. Six African banking institutions are making sure financial tech doesn’t disrupt their businesses by working together to connect their systems with distributed ledgers. Absa & Barclays Africa Testing Multiple Platforms Across the South African Region. One....
Morgan Stanley is said to be pulling out of the R3CEV blockchain consortium, according to reports. Reuters and The Wall Street Journal indicate that the bank doesn't plan to take part in the startup's ongoing funding effort, aimed at raising $150m. Earlier this week, it was revealed that Goldman Sachs and Banco Santander had moved to withdraw from the consortium, though at press time, neither bank has publicly commented on the reasons for their exits. Departures aside, the consortium is pushing forward, as most of the R3 member banks are said to be planning to invest in the funding round.....