SBI Ripple Asia Launches New Alliance to Explore DLT Applications in Securities

nRunaway Comment: SBI Ripple Asia, a joint venture between SBI and Ripple, is recently taking a new step toward further blockchain research. It is forming a consortium that will explore the application of DLT in the securities arena, hoping to help the department improve efficiency and reduce costs. The participation of well-known companies such as SBI Securities, Daiwa Securities and Nomura Securities is also more anticipated the progress of the project.n
nTranslation: Inan
SBI Ripple Asia is forming an alliance to study the application of Distributed ledger technology (DLT) to securities products.n
The company is a joint venture between Japanese investment company SBI and San Francisco-based DLT payment startup Ripple. It said in a statement that the new alliance will bring together 18 securities firms to research and commercialize emerging technologies, particularly DLT, to increase efficiency and reduce operating costs for their customers.n
Well-known companies that will participate in the program include SBI Securities, Daiwa Securities and Nomura Securities. In addition, SBI Ripple Asia revealed that the alliance will set up a DLT Advanced Lab Working Group to further explore the blockchain.n
This project is the latest move by the company to promote blockchain applications in more financial services.n
According to previous reports, SBI Ripple Asia announced the successful completion of a pilot in March last year when it conducted interbank banking with 47 banks using Ripple’s technology.n

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