R3 Blockchain Consortium Sees American Insurance Giant MetLife Join Ranks
MetLife Inc., one of the largest insurers in the world has joined the R3-led blockchain consortium that now counts 60 of the world’s largest financial institutions. Insurance giant MetLife is the latest financial institution to join the financial private blockchain consortium led by New York-based startup R3. MetLife will partner and interact with other R3 members in an effort to explore the potential application of blockchain technology in the insurance industry. Specifically, how distributed ledgers can streamline activities such as business processing, policy administration, customer....
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As one would expect from this partnership, Credicorp will join the R3 Lab and Research Centre. Ever since some of the R3 consortium’s founders left the table, things have been somewhat quiet. But there is still a lot of confidence in this joint blockchain collaboration structure. Peruvian financial services company Credicorp is the first Spanish-speaking Latin American member of the consortium. A positive development for R3 and its members. Expanding the R3 blockchain consortium to new regions all over the world is of the utmost importance. Once thing notably absents from the consortium to....
Blockchain startup R3CEV has added Hong Kong-based life insurance group AIA to the ranks of its global banking consortium. The announcement comes at a time when R3 is increasing its presence in Asia as well as diversifying its portfolio of participating financial institutions, having added China-based Ping An Insurance Group to its consortium in late May. In statements, R3 CEO David Rutter echoed this sentiment in remarks, seeking to position the move as one that adds new stakeholders to its conversation. In addition to creating in-house technologies, such as the smart contract distributed....
China Merchants Bank has become the latest Asia-based bank to join the R3 blockchain consortium. The commercial bank, founded in the late 1980s, is the second financial firm in China to join the initiative. In June, insurance giant Ping An announced its membership, signaling the group's growing interest in Asia. The bank, which claims to hold more than ¥2.6tn (roughly $390bn) in assets, has offices in both China and abroad, including one in New York where R3 is headquartered. In statements, Tianhong Zhou, IT general manager for China Merchants Bank, expressed his enthusiasm for the....
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....
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....