SBI Ripple Asia is a consortium that will explore the use of distributed ledger technology (DLT) for securities.
The consortium is a joint venture between Japanese investment firm SBI Holdings and Ripple Labs, which developed the Ripple trading protocol. The consortium aims to bring together 18 securities trading firms to research and commercialize new technologies, particularly DLT, to improve efficiency and reduce operating costs.
The firms that will participate in the initiative include renowned companies SBI Securities, Daiwa Securities and Nomura Securities. In addition, SBI Ripple Asia announced that the consortium will form a DLT implementation working group to further explore blockchain technology.
Through this initiative, SBI Ripple Asia intends to promote the use of blockchain technology in the provision of financial services.
As previously reported by CoinDesk, SBI Ripple Asia held a successful event last March in which 47 banks used the Ripple transaction protocol for interbank transactions.
According to https://www.coindesk.com
You May Also Like
Analysis of cryptocurrency pairs BTC/USD, ETH/USD, XRP/USD as of 08/18/2018
Hesitant attempts to break through resistance levels were unexpectedly successful. Will yesterday's achievements be further developed today?
The number of banks cooperating with Ripple is growing every week
One of the most important news about Ripple this year is its cooperation with banks and payment systems. RippleNet, Ripple's data exchange system, is similar to SWIFT and is a design that signals banks where to send money. It also offers a service that helps banks process transactions.
