Categories: CryptoNews

Itaú becomes the first Latin American bank to join the R3 Blockchain Consortium

During the last couple of months, a growing number of banks have begun showing a growing interest in the blockchain technology. One such example is the Latin American, Brazil-based private sector bank, known by the name of Itaú.

According to recent reports, the bank has just announced that it has signed a partnership with the R3 Blockchain Consortium, to join the project, and work on developing and implementing Blockchain-based technologies.

In a recent press statement, representatives from the bank stated that: “We have joined the R3 consortium in order to contribute to the international drive for development and implementation of innovative solutions based on distributed ledger technology. We are anxious to operate together with R3 and other financial institutions in Latin America to expand the benefits that distributed ledger technology offers”

The agreement itself is significant as well, considering the fact that Itaú is the largest private sector bank in the region, but also the first company in Latin America to join the R3 consortium, which currently consists of over 40 financial institutions from all around the world including Bank of America, Goldman Sachs, JP Morgan Chase and more.

Related Post

For those that do not know, the R3 Blockchain Consortium serves the scope of bringing together veterans of the financial market, alongside with blockchain and digital currency specialist, who can collaborate and carry out research, but also engineer new products and services that will shape our world’s financial future.

Based on everything that has been outlined so far, what do you personally think about Itaú joining the R3 Blockchain Consortium? Let us know your thoughts in the comment section below.

If you liked this article follow us on Twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Daniel Dob

Daniel is a bitcoin investor and journalist for numerous news outlets in the financial sector. When he's not writing, trading, or interviewing people, you can find him swimming, reading or taking one of his hobbies to the next level.

Share
Published by
Daniel Dob

Recent Posts

Ushering in a Brand New Ecology in Game: How Does HashLand Become a Vanguard to Guarantee Floor Value?

For some time in the past, Gamefi was criticized by many people as a lofty…

2 hours ago

Robinhood Shiba Inu Listing Not Happening This Year, Especially After the Recent Security Incident

With Robinhood's recent security incident that leaked over 5 million users' names and email addresses,…

3 hours ago

Loopring Price Down 10%, Is LRC a Good Investment for 2022?

There's no doubt that the cryptocurrency market has been experiencing a rough couple days. Loopring's…

4 hours ago

Here’s Why Precious Metals Belong in Your Portfolio

Whether you already have a large portfolio or you’re just getting started in investing, precious…

5 hours ago

Gala Price Doubles After Town Star Nodes Announcement

Gala price is up over 93% today, making it the biggest gainer on Crypto.com, followed…

9 hours ago

Shiba Inu Price Holding Support as the FUD Continues

Shiba Inu's price continues to hold the $0.000049 support level amid FUD from major news…

11 hours ago

This website uses cookies.