Sumitomo Mitsui secures stake in SBI-R3 blockchain joint venture

4 hours ago 17 August 2020
Sumitomo Mitsui Financial Group has taken a stake in SBI Holdings’ and R3’s joint venture (JV) as they look to develop and promote the use of blockchain.
The JV is SBI R3 Japan, a “US fintech company” developing the Corda platform – and it has today (17 August) announced share transfers. As a result, SBI now has 51%, R3 35% and Sumitomo Mitsui 14%.
Sumitomo Mitsui already has an interest in blockchain and is participating in the Marco Polo trade finance project, which …

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