Copy link
Increase text size
Decrease text size
Link copied

Enterprise Ethereum Alliance welcomes Standard Chartered as new member

Image Credit: Standard Chartered Bank

Fri, 08 Nov 2019, 11:15 am UTC

British banking giant Standard Chartered is the latest to join the Enterprise Ethereum Alliance (EEA), a member-led organization that aims to advance enterprise blockchain deployments leveraging Ethereum-based technology.

Launched in 2017, EEA is focused on developing a set of open-source, standards-based blockchain specifications that can be trusted and utilized globally for the betterment of all businesses and consumers. It currently has more than 500 members including the likes of Microsoft, Santander, JPMorgan, Accenture, BNY Mellon and many others.

As an EEA member, Standard Chartered said it will join forces with industry leaders in pursuit of Ethereum-based enterprise technology best practices, open standards, and open-source reference architectures.

“We are excited to be a part of the EEA and look forward to opportunities where we can collaborate with other leading industry players to deepen blockchain research and application in the banking sector,” said Dr. Michael Gorriz, Group Chief Information Officer at Standard Chartered.

The bank was among the first financial institutions to pilot blockchain technology for payments. It believes that the technology is central to banking and commerce in the digital era, allowing transactions to be verified, secure and processed in real-time.

Standard Chartered is not only actively involved in the blockchain space but also working with various industry partners and fintechs to explore its use. It is one of the founding members of Voltron, a blockchain-based open industry platform launched in October 2018 to digitally create, exchange, approve and issue Letters of Credits (LCs). In August, it completed its first blockchain-based deep-tier supply chain financing transaction with China-based Linklogis.

It has also partnered with Ant Financial to launch a blockchain-enabled cross-border remittance service from Hong Kong to the Philippines. Another project aims to create blockchain-based smart guarantees for trade finance in collaboration with Siemens Financial Services and TradeIX

The bank is also involved in Project Inthanon led by the Central Bank of Thailand to develop a central bank digital currency (CBDC), and Project Ubin led by Monetary Authority of Singapore (MAS) to explore the use of distributed ledger technology for the clearance and settlement of payments and securities.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,231.73 (-0.49%)
  • Ethereum (ETH) $239.13 (-0.70%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $231.68 (-2.08%)
  • Bitcoin SV (BSV) $181.54 (-2.21%)
  • Bitcoin (BTC) $9,231.73 (-0.49%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft