Brazil: R3 Develops Blockchain Platform With Major Banks and Stock Exchange


Published 7m ago via cointelegraph.com

Brazil: R3 Develops Blockchain Platform With Major Banks and Stock Exchange
Cointelegraph via cointelegraph.com

Blockchain software consortium R3 revealed that it is developing a blockchain platform in Brazil with banks Bradesco, Itau and B3, Cointelegraph Brazil reported on June 12. The R3 Consortium — which is composed of large banks and technology companies — announced during the CIAB Febraban event in São Paulo that it is currently collaborating with Brazilian banks.

During the event, R3 executives claimed that the consortium partnered with Itau and Bradesco banks to build a blockchain-enabled platform for foreign trade and insurance. As Cointelegraph reported in May, CULedger, a blockchain consortium and credit union service organization, chose R3’s Corda blockchain to underpin its forthcoming cross-border payments product.

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