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SBI Joins JP Morgan Blockchain Platform: Report
Blockchain
The State Bank of India (SBI) has joined JP Morgan’s Blockchain network to improve cross-border transactions for its customers, the Economic Times reported. The addition of the country’s largest bank to the global blockchain platform run by the global banking giant will mean lower costs for transactions and better speeds when it comes to settlements, the report said citing sources.
Called ‘Liink‘, the blockchain platform allows banks, financial institutions and corporates to transfer and settle data on a peer-2-peer basis. By using the platform, SBI and other banks can exchange information securely across widespread network of banks and institutions with relative ease and speed. At present, it has over 380 banks on board including SBI, ICICI Bank, Canara Bank, IndusInd Bank, Kotak Mahindra Bank, Federal Bank, Union Bank of India and Yes Bank. ....

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