Mizuho, Nordea and UniCredit join R3 blockchain consortium taking total to 25

Financial innovation firm R3 continues to draw powerful allies in its blockchain consortium; the latest ones to join it are three banks namely Mizuho Financial Group, Nordea and UniCredit.

Blockchain is the technology behind virtual currency Bitcoin and it continues to draw powerful admirers.

All have joined this consortium to design and apply the distributed ledger technology, blockchain, for the global financial markets.

Interest in the initiative amongst the international banking community has continued to grow at a rapid pace ever since its launch with the backing of nine financial institutions in September of this year.

These three join other financial heavyweights like the Barclays, Bank of America, BBVA, BNY Mellon, Commonwealth Bank of Australia, Citi, Commerzbank, Credit Suisse, Deutsche Bank, National Australia Bank, J.P. Morgan, Goldman SachsHSBC, Morgan Stanley, State Street, Royal Bank of Canada, Royal Bank of Scotland, Mitsubishi UFJ Financial Group, SEB, Societe Generale, Toronto-Dominion Bank and UBS, taking the number of participants to 25.

Paolo Fiorentino, Deputy General Manager of UniCredit hoped that the move to join blockchain consortium will enable “UniCredit to play a leading role in the upcoming revolution of the financial products and payment services, as well as in the overall banking industry proposition”.


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