SBI Ripple Asia creates a consortium which will study the use of technology of distributed registries in the products on the basis of the securities.
SBI Ripple Asia is a joint venture between Japanese investment firm SBI and blockchain startups from San Francisco Ripple. The company says that the new consortium will unite the efforts of 18 companies working in the field of securities research and commercialization of applications based on new technologies, in particular technologies of distributed registries. The goal of these efforts is to increase the efficiency of services provided to customers while reducing operating costs.
In the list of companies that have joined the initiative include giants such as SBI Securities, Daiwa Securities and Nomura Securities. In addition, SBI Ripple Asia announced that the consortium is forming a working group DLT Advanced Experiment to explore the possibilities of blockchain technology.
This step was one of the last initiatives SBI Ripple Asia designed to use the blockchain application in the field of financial services.
In March last year SBI Ripple Asia has announced the launch of a pilot project, which was attended by 47 banks, which used the technology of Ripple for interbank transactions.