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
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