Three banks from Japan, Italy, and Sweden join R3 blockchain consortium

Announcements | November 11, 2015 By:

R3 has announced that Japan’s Mizuho Bank, Italy’s UniCredit and Stockholm-based Nordea joined the global consortium of banks developing blockchain framework for markets.

Most of the world’s biggest banks, with the exception of Chinese lenders, have now signed up to the initiative. It represents the first time banks have collaborated on how the technology that underpins bitcoin, a controversial, web-based “cryptocurrency”, can be used in finance.

David Rutter, CEO of R3 said, “We have been inundated with interest in this project from banks across the world since launching with an initial nine institutions just over a month ago.”

R3 is a New York City-based financial platform.