SBI Ripple Asia Forms Consortium to Bring DLT to Securities

The joint venture between investment giant SBI and Ripple is forming a group to research the use of distributed ledgers in securities products.

AccessTimeIconJan 30, 2018 at 8:30 a.m. UTC
Updated Sep 13, 2021 at 7:30 a.m. UTC

SBI Ripple Asia is forming a consortium that will research the use of distributed ledger technology in securities products.

According to an announcement, the company – a joint venture between Japanese investment firm SBI and San Fransisco-based DLT payment startup Ripple – said the new consortium will see joint efforts from 18 securities firms to research and commercialize applications of emerging technologies, particularly DLT, to improve efficiency for customers, while reducing operational cost.

Notable firms that will be part of the initiative include SBI Securities, Daiwa Securities and Nomura Securities. In addition, SBI Ripple Asia said that the consortium will form a DLT Advanced Experiment Working Group to further its study on blockchain.

The move comes as the latest initiative by SBI Ripple Asia to push the use of blockchain applications within more financial services.

As previously reported by CoinDesk, SBI Ripple Asia announced a successful pilot last March with 47 banks that used Ripple's technology for interbank transactions.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which has an ownership stake in Ripple.

Japanese yen image via Shutterstock

Disclosure

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

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.