Home / Cryptocurrency / Standard Chartered Banking Group Joins Ethereum Enterprise Alliance

Standard Chartered Banking Group Joins Ethereum Enterprise Alliance

Global banking crew Usual Chartered has transform the newest member of a blockchain standard-building group, the Ethereum Endeavor Alliance (EEA).

In a press unencumber issued on Nov. 6, Usual Chartered mentioned the transfer would permit it to enlarge its consumer choices throughout its 60 world markets.

Usual Chartered is newest EEA banking member

“Generation permits us to facilitate industry and funding throughout our footprint markets, making improvements to consumer reviews and providing new products and services,” Team Leader Data Officer, Dr. Michael Gorriz, commented.

The EEA shaped in March 2017 as a collaborative effort exploring the improvement and implementation of blockchain answers throughout financial sectors. Its club base now runs into the loads, with participation from entities together with Microsoft, Hyperledger and quite a lot of different world banks comparable to Santander and Russia’s Sberbank.

A proper affiliation with Hyperledger, which itself provides enterprise-grade blockchain equipment, got here in October closing 12 months.

The EEA additionally publishes informational subject material comparable to blockchain requirements paperwork, amongst which used to be a devoted effort for the telecoms business in August.

Expanding blockchain maneuvers

“We’re excited to be part of the EEA and sit up for alternatives the place we will collaborate with different main business avid gamers to deepen blockchain analysis and alertness within the banking sector,” Gorriz added.

Usual Chartered has already made inroads into blockchain usage. As Cointelegraph reported, the financial institution not too long ago finished a provide chain financing scheme and used the generation to ship a cross-border letter of credit score transaction.

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