Japanese financial conglomerate SBI Group Holdings partnered with blockchain consortium R3 to promote Corda blockchain platform in Asia.
SBI Holdings and R3 will create a joint venture that would promote the use of Corda blockchain in Asia. Japanese financial holding is also planning to expand its investment share in R3.
Speaking about the joint venture R3 CEO David Rutter told Nikkei:
“The new joint venture will strengthen the Japanese language service, and promote adoption.”
The new partnership will focus on increasing the efficiency of banking services provided by SBI Group to more than 200 banks across the world.
Back in June 2018, SBI Holdings launched its own cryptocurrency exchange. The company is also known to be trialling a crypto token that can be utilized in making retail purchases via the users’ smartphones.
This news was provided by Crypto News India, our partnering media source in India.