Japanese financial services giant SBI Holdings and blockchain consortium startup R3 have formed a joint venture to boost the adoption of R3's Corda platform in Japan and beyond.
Announcing the news on Tuesday, SBI said that the new venture, SBI R3 Japan, will be setting up and licensing the Corda platform for new customers, as well as providing collaboration with R3's global offices and other Corda partners.
SBI Holdings - which says it is the largest outside shareholder in R3 - has a 60 percent stake in the new entity, while R3 has 40 percent, the firm said.
The venture launches with capital of 500 million yen.
Outside its operations in traditional finance, SBI Holdings is dipping its toes into a number of areas of blockchain-based finance.
It notably operates Japan's first bank-backed, government-licensed cryptocurrency exchange, VCTRADE, which was launched.
Last April, its Russian commercial bank subsidiary SBI Bank LLC joined.
It's also been working with another major blockchain tech provider, teaming up with Ripple last October to launch.
A consumer-focused blockchain money transfer app called MoneyTap.
R3 most recently signed a deal with Dutch banking group ING, licensing the firm for use of Corda Enterprise across its services.
SBI, R3 Team Up to Promote Adoption of Corda Blockchain in Japan
gepubliceerd op Jan 29, 2019
by Coindesk | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
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.