Japan’s SBI Group and R3 Join Hands to Promote Corda Blockchain in Asia

By Kapil Gauhar

Whenever it comes to cryptocurrency adopters, Japan’s SBI Group comes being one of the industry leaders. It had done several things to prove that. Not just hast it launched an international remittance application in partnership with Ripple but has also been working on some other cryptocurrency as well as blockchain projects, including its own cryptocurrency exchange. In the present, it turns out that the group is starting one more such project in partnership with R3.

That’s correct. As per the recent news report covered by local news outlet Nikkei, SBI Group has some plans to expand its partnership with R3 and create a joint venture which would promote the use of Corda Blockchain in Asia. Talking about the joint venture, R3 CEO David Rutter told Nikkei –

“The new joint venture will strengthen the Japanese language service, and promote adoption.”

R3 is a US-based startup behind one of the most popular public blockchains known as Corda blockchain. It is aimed at increasing the efficiency for its banking partners along with its products as well as services so that it is not surprising that it had a partnership in place with SBI Group of Japan too. Its clientele of more than 200 banks is broadcasted throughout the world, and several of its partners are using its platform for AML purposes as well as KYC compliance.

R3 had even begun a consortium blockchain of which SBI is a member. Also, it has launched a universal payments settlement platform known as Corda Settler which makes the use of Ripple’s XRP. It won’t be wrong to say that the love of these two corporations is in the air.

Now it will be even more interesting to see what initiatives are undertaken next by these two firms collectively, and what are their steps to promote Corda in Asia. Let’s wait and watch!