ABN Amro has become the latest financial institution to join the R3 blockchain consortium.
As an R3 member, the bank said that it expected to build on its past efforts. Arjan van Os, chief of ABN AMRO’s Innovation Centre, said in a statement:
In May, ABN Amro director of transaction banking Karin Kersten explained that the bank was very much in a test-and-see stage when it comes to blockchain, but that it was investing resources across its various business lines. ABN Amro’s entry into R3 is perhaps a reflection of that continued process.
"We are doing experiments and seeing if they work. We are learning by doing, and working on different levels. There’s not just one team working on the blockchain," Kersten told CoinDesk.
More than 60 companies worldwide have joined the R3 consortium to date. Last month, Russia payments firm QIWI became a member.