New ASEAN blockchain consortium targets cross-border cooperation
The new ASEAN Blockchain Consortium aims to engage with regulators to ensure compliance and raise industry awareness. Blockchain associations from Australia and five Southeast Asian nations are joining forces to promote blockchain development and education.Blockchain organizations from Australia, Singapore, Malaysia, Thailand, Indonesia and the Philippines signed a memorandum of understanding Thursday to promote blockchain collaboration in the Asia Pacific, Business Times reports.Initiated by Blockchain Association Singapore, or BAS, the MoU aims to engage with regulators to ensure legal....
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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....
A blockchain-centric consortium of banking and financial services institutions in Japan now sees 42 members among its ranks in a concentrated effort to leverage bitcoin’s underlying innovation for payment and settlement solutions. The consortium, planned in collaboration between Japanese financial services firm SBI Holdings and its subsidiary SBI Ripple Asia, was discussed as early as August 2016. The working group was to be created to focus on blockchain-based payment and settlement services. More specifically, the group of banks sought to address the increasing new trend of real-time,....
Twelve member banks of the R3-led banking blockchain consortium and the New York-based startup have trialed Ripple’s native digital currency token XRP, using the Fintech startup’s blockchain technology. The trials were conducted at R3’s lab in an effort to demonstrate cost-cutting and increased efficiency of cross-border payments using Ripple’s ‘digital asset’. The twelve R3 member banks involved in the trial include Barclays, BMO Financial Group, CIBC, Intesa Sanpaolo, Macquarie Group, National Australia Bank (NAB), Natixis, Nordea, Royal Bank of Canada (RBC), Santander, Scotiabank, and....
Dilip Rao, Managing Director of Ripple Labs in Sydney, has announced that Ripple will continue to expand its “highly demanded” real-time settlement protocol in the Asia-Pacific region. Ripple appointed fin-tech veteran and experienced salesman Dilip Rao for the new Ripple Labs Asia Pacific subsidiary back in April. According to Ripple, the company established the new facility to support the “growing demand for Ripple’s real-time settlement protocol in the region” and to connect with Ripple Labs partners in the Asia-Pacific market. In a press release, Rao explained that countries in the....
The Korean financial institution, Hana Financial Group has joined the R3 consortium to include blockchain technology into its operations. Financial institutions across the world have started showing interest in the use of blockchain technology for banking and financial sector. One of the leading companies in the forefront of this new technology adoption is R3. The New York-based fintech startup working on blockchain based fintech solutions has created a group of over 40 international banking institutions to create a custom Ethereum-based cross border blockchain solutions for them. This....