Brazil's Banco Bradesco Joins R3 Consortium

A major Brazilian banking institution has become the latest member of distributed ledger consortium R3.

AccessTimeIconJun 28, 2016 at 1:51 p.m. UTC
Updated Sep 11, 2021 at 12:21 p.m. UTC

A major Brazilian banking institution has become the latest member of distributed ledger consortium R3CEV.

Banco Bradesco announced today that it had joined the R3 consortium, becoming the latest of more than 40 participants to join the group of banking institutions worldwide that are collaboratively exploring blockchain and distributed ledger applications.

Founded in 1943, the bank is the third-largest bank in Brazil by total assets, according to data from the nation's central bank.

Bradesco executive vice president Maurício Machado de Minas said in a statement:

"Innovation plays a crucial role at Bradesco and we are committed to better serve our customers and add value to our shareholders. Distributed ledger technologies can help us to achieve these objectives and we are excited about joining R3, so that we can work together and discover the full potential of this new technology."

The news comes days after Toyota Financial Services, the finance arm of automaker Toyota Motor Corporation, announced that it had joined the consortium.


Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
Hard Times in Crypto: the Unintended Consequences of Going Public

The third and final reflection on a series of risks we’re thinking about during these crypto down days.

CoinDesk - Unknown
2
CoinDesk - Unknown
After Bitcoin Maximalism

A Twitter debate sparks much reflection.

CoinDesk - Unknown
3
CoinDesk - Unknown
Three Arrows Paper Trail Leads to Trading Desk Obscured Via Offshore Entities

As Three Arrows Capital collapsed under market pressure, its much-lesser known trading desk, TPS Capital, remained active, sources say. But a complex ownership structure might frustrate creditors' efforts to collect.

CoinDesk - Unknown
4
CoinDesk - Unknown
June Was Bitcoin’s Worst Month Ever

Plus, European crypto regulation comes into view.

CoinDesk - Unknown