Nine major investment banks including J.P. Morgan Chase and Goldman Sachs have partnered with distributed ledger startup R3CEV.
The partnership will see collaborative efforts between the institutions take shape, work that will include the development of standards for using Blockchain technology within the broader financial industry.
“This partnership signals a significant commitment by the banks to collaboratively evaluate and apply this emerging technology to the global financial system. Our bank partners recognize the promise of distributed ledger technologies and their potential to transform financial market technology platforms where standards must be secure, scalable and adaptable.”
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