SBI Holdings joins blockchain consortium R3

Shortly after SBI Holdings Inc (TYO:8473) inked a multi-million dollar investment deal with Bitcoin exchange Kraken, the Japanese financial conglomerate announces another step into the world of blockchain.

SBI Holdings today announces that it will join blockchain consortium R3, led by US fintech company R3 CEV LLC. The consortium is one of the world’s largest working groups seeking to beef up the efficiency of financial markets by using blockchain technology. Some of the financial institutions in the consortium are promoting the application of blockchain technology in financial services, and have already started performing experiments to verify the feasibility of such technology.

SBIH, a pioneer FinTech company in Japan, has been offering a variety of financial services since its foundation by using the Internet. All the SBI Group companies are promoting the introduction of new technologies in an effort to further bolster customer convenience, with the aim of offering unique services in each business field, and differentiating themselves from other companies.

SBIH will proactively consider applying blockchain technology to the financial services of the SBI Group.

You can view the official announcement from SBI Holdings by clicking here.

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