IBM announced a partnership with the Japan-based Bank of Tokyo-Mitsubishi UFJ to use the distributed ledger technology for the execution of contracts among business partners.
Final round increased the total sum of investment to $60 million.
The company gets $50 million to apply a distributed ledger to financial services and expands its Board of Directors.
DBS Bank cooperates with Standard Chartered PLC on developing distributed ledger technology for trade finance in Singapore.
Thus R3 project has just grown up to 42 members – the world’s largest and most influential banks.
The blockchain holds huge promise for the future of the financial industry, with the world’s leading organizations developing solutions based on the bitcoin technology.