42 Banks Join New Japanese Blockchain Consortium
42 banks are joining a newly-created Japanese blockchain consortium to enhance the cross-border payment industry. The consortium will focus on research and development, and will cover domestic and foreign exchange services by utilizing blockchain technology. SBI Holdings and Ripple Asia Launch 42 Bank Consortium. .The Japanese blockchain organization....
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A number of Japanese banks are reportedly set to test domestic fund transfers using digital currencies over a blockchain as a low-cost alternative to traditional money transfers. According to a Thursday report by Nikkei, Japan’s most prominent financial publication, a handful of major Japanese banks will perform tests to determine if a digital currency powered blockchain platform could prove a viable alternative for the current national payments clearing platform ‘Zengin’. Operated by the Japanese Bankers Association, the Zengin System powers domestic money transfers in Japan. The....
New York-based blockchain startup R3, known for spearheading an international banking-based blockchain consortium has reportedly called on Sri Lanka’s central bank to join the working group. R3 has wooed over 80 the world’s biggest banks and financial institutions to collaborate under the common roof of its blockchain consortium. The consortium has notably worked with regulators in developing blockchain applications, including the likes of the Singapore’s central bank, Hong Kong’s financial regulator and South Korea’s central bank. Now, R3 is reportedly continuing its charm offensive of....
A new consortium of Japanese banking and financial services giants will seek to use blockchain technology to provide domestic and foreign exchange services. Japanese financial services giant SBI Holdings and its subsidiary SBI Ripple Asia, have collaborated to launch a consortium that will seek to use blockchain innovation – the technology underpinning bitcoin – in new payment and settlement services from October 2016. A press release [PDF] from SBI Holdings has revealed that the consortium will be named the “Consortium for Considering Blockchain Technology to Centrally Provide Domestic....
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....
The global consortium of major banks and financial institutions looking to tap into block chain technology and headed by New York-based technology firm R3 has five more banks joining the ranks, bringing to a total that now figures 30 global banks. Blockchain startup R3's initiative to use blockchain technology in financial markets now has five more participants in a group that contains the world's biggest banks. BSNP Paribas, the Canadian Imperial Bank of Commerce, ING, MacQuaire and Wells Fargo are the newest members in the consortium that now stands at 30 global financial institutions in....