Copy link
Increase text size
Decrease text size
Link copied

R3, Bradesco, Itau team up to develop blockchain-enabled platform for foreign trade and insurance: Report

R3 Office Photo via CoinDesk

Fri, 14 Jun 2019, 03:31 am UTC

Enterprise software firm R3, in collaboration with Brazilian banks Bradesco and Itau, is developing a blockchain-based platform, Cointelegraph reported.

The announcement was made by R3 at the recently held CIAB Febraban event in São Paulo.

Both Bradesco and Itau are existing members of the R3-led global blockchain banking consortium, which they joined back in 2016.

During the event, R3 executive announced that the firm has teamed up with the two banking giants to develop a blockchain-enabled platform for foreign trade and insurance.

In addition to the initiative with the two banks, the executive also said that the Brazilian stock exchange B3, formerly BM&FBOVESPA, was also using R3’s Corda blockchain platform for digital identification. B3 had also joined the R3 blockchain consortium in 2016.

Previously in March, R3 announced that it was one of the partners of Laboratory of Financial and Technological Innovations (LIFT) an initiative coordinated by FENASBAC and the Central Bank of Brazil. It said (via online translation):

“The Corda platform in its Open Source version will be made available to LIFT participants who are interested in developing solutions using blockchain technology. The Enterprise version of Corda Enterprise will also be available free of charge for testing and development to participants requesting access to R3.”

Brazil is increasingly making efforts to be at the forefront of the blockchain revolution. Just recently, a group of 10 federal deputies filed a draft policy that aims to encourage implementation of blockchain and other advanced technologies in all local public administration units.

In addition, Camara Interbancaira de Pagamentos (or Interbank Payment Clearing House, CIP) launched a blockchain-based identity platform in collaboration with IBM in the country’s banking sector.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Bitcoin (BTC) $7,104.17 (-0.07%)
  • Ethereum (ETH) $142.17 (+0.13%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $207.24 (+0.21%)
  • Litecoin (LTC) $43.39 (-0.74%)
  • Bitcoin (BTC) $7,104.17 (-0.07%)
Dec 14, 2019 (Saturday)
Darknet marketplace Hydra launching an ICO on Dec.16 to fund its global expansion
Dec 13, 2019 (Friday)
Crypto Technicals: Major Cryptocurrency Support Resistance Levels
Crypto Technicals: Major Cryptocurrency Daily Technical Outlook
Crypto Technicals: BCH/USD edges above 5-DMA, near-term upside likely on break above 20-DMA (211.74)
Terra launches stablecoin-powered payments service in Mongolia
Crypto Technicals: Ripple (XRP) edges higher from session lows at 0.2154, 'Hammer' at lows raises scope for minor gains
Korean cybersecurity firm partners with R3 for digital asset management and MPC technology
SEC charges Shopin’ founder with orchestrating ICO fraud; Accused deactivates social media, Telegram account
Crypto exchange Kraken looking for operations director to helm ‘special-purpose depository institution’
Twitter looks to blockchain to decentralize social media
Crypto Technicals: LTC/USD flashes signs of recovery, 'Dragonfly Doji' and 'Bullish Divergence' could support minor upside
ING bank developing custody project for digital assets: Report
Basel Committee on Banking Supervision mulls designing global prudential standard for crypto-assets
Franklin Templeton leads blockchain-based social impact platform’s funding round
Crypto Technicals: BTC/USD breaks above 50H MA, 'Bullish Divergence' could support further gains
TokenSoft submits transfer agent filing to the SEC; Decision to arrive in 30 days
Crypto Technicals: ETH/USD recovery lacks traction, upside capped at 5-DMA
Glencore joins Responsible Sourcing Blockchain Network for tracing cobalt
Grant Thornton releases second report on Cryptopia liquidation; Pulls back nearly $5M from various sources
Chainalysis launches compliance solution for Bitfinex amidst class-action lawsuit
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.