The vice president of Brazil’s biggest bank, Bradesco, revealed that major local banks will introduce a unique blockchain platform on June 12, Cointelegraph Brazil reports on June 11.

Bradesco VP Mauricio Minas has delivered a speech devoted to the role of blockchain in the global financial system, speaking at major Latin American banking and fintech event CIAB Febraban on June 11.

The Bradesco VP unveiled the plans of local banking institutions to soon adopt an unnamed blockchain-powered solution, adding that a number of Brazilian banks have been developing applications using distributed ledger technology (DLT).

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