SBI Ripple Asia is creating a consortium whose mission is to explore the possibilities of using distributed registry technology in products related to securities.
SBI Ripple Asia is a joint venture of Japanese investment company SBI and a payment blocking start-up from San Francisco – Ripple. According to the company, the new consortium plans to work with 18 securities companies to research and apply new technologies, in particular blocking technology, to increase efficiency and reduce costs in securities transactions.
Among the companies that will participate in the project, appear SBI Securities, Daiwa Securities and Nomura Securities. In addition, SBI Ripple Asia declares that the consortium will form the advanced experimental working group dealing with the technology of distributed registries (DLT Advanced Experiment Working Group) for further study of the detachment.
This initiative is the last step at this time of SBI Ripple Asia on the way to the implementation of applications on the blockroom for the provision of a large number of financial services.
Last March SBI Ripple Asia announced the successful implementation of a pilot program with 47 banks using Ripple technology for transactions between banks.