SBI Holdings, R3 Embark on ‘Joint Venture’ to Boost Corda Blockchain Use in Asia

December 6, 2018
7 Views

R3’s Corda platform aims for an adoption boost via a partnership with Japanese financial services giant SBI Holdings.

Japanese financial services company SBI Holdings will partner with software firm R3 to expand local use of its Corda blockchain platform, Cointelegraph Japan reported Dec. 5.

Quoting local news outlet Nikkei, the report reveals that SBI, which is involved in multiple cryptocurrency and blockchain-related activities, will expand on its existing investment in R3 to create a “joint venture” aimed at promotion.

“Europe is the most advanced in blockchain product development,” R3 CEO David Rutter told Nikkei in an interview:

“The new joint venture will strengthen the Japanese language service, and promote adoption.”

The company added its R3 partnership would extend beyond Japan to cover the wider Asian space.

R3 focuses on using Distributed Ledger Technologies (DLT), such as blockchain, to facilitate efficiency increases primarily for banking partners. Based in the United States, the startup has clients throughout the world, which currently number around 200.

Deals continue to come, Cointelegraph this week reporting on a group of French banks completing a Corda-based Know Your Customer (KYC) trial, while R3 also announced that the first cryptocurrency added to its payments DApp would be Ripple (XRP).

SBI is also deeply entrenched in XRP, its joint money transfer operation SBI Ripple Asia gaining Japanese regulatory approval in September.

You may be interested

The Biggest Rises and Falls of Bitcoin, Explained
Bitcoin Price
Bitcoin Price

The Biggest Rises and Falls of Bitcoin, Explained

btcethereumadmin - December 11, 2018

There have been rises of 1,950 percent in a year, and falls of 50 percent in a day. Here’s a…

Harvard Economist: Bitcoin’s Future Value More Likely to Be $100 Than $100K
Crypto News
Crypto News

Harvard Economist: Bitcoin’s Future Value More Likely to Be $100 Than $100K

btcethereumadmin - December 11, 2018

Ex-chief economist of the IMF and Harvard University Professor of Economics and Public Policy Kenneth Rogoff has characterized Bitcoin as…

Galaxy Digital and Block.One Lead $30 Million Funding Round for US Disruptor Bank
Bitcoin
Bitcoin

Galaxy Digital and Block.One Lead $30 Million Funding Round for US Disruptor Bank

btcethereumadmin - December 11, 2018

The cryptocurrency VC fund has become the latest to pile into the neo-banking sector. Cryptocurrency-focused merchant bank Galaxy Digital and…

Leave a Comment

Your email address will not be published.