SBI Bank LLC, a Russia-based commercial bank owned by Japanese financial giant SBI Holdings, is joining the New York City-based banking consortium R3. In an announcement Friday, the bank said it aims to join the financial group to advance R3's Corda distributed ledger platform, and push cross-industry adoption of blockchain technology.
"We regard blockchains as the core of FinTech innovation and are working on various measures both in Japan and abroad. Through this effort, we believe that we can contribute to the progress of the global blockchain field," the group stated.
The news marks yet another financial institution from Japan joining the global banking blockchain consortium.
Previously, a group of Japanese financial firms conducted a test to streamline international transaction agreements using R3's Corda DLT platform.
Today's announcement is also part of a wider push by SBI Holdings into blockchain technology.
As detailed by CoinDesk, the Japanese banking group has previously registered with the country's financial watchdog to launch a cryptocurrency exchange platform, which is currently pending public release.
The bank also partnered with the San Fransisco-based blockchain startup Ripple to facilitate the experiment of cross-border blockchain payments among financial institutions.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Banking Giant SBI Subsidiary Joins R3 Blockchain Consortium
pubblicato su Apr 13, 2018
by Coindesk | pubblicato su Coinage
Coinage
Notizie recenti
Vedi tutti
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.