Banking Giant Joins Enterprise Ethereum Alliance

November 8, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

With more than $685 billion of assets, the British multinational banking corporation Standard Chartered has joined the Enterprise Ethereum Alliance (EEA), which is promoting the blockchain of the second largest cryptocurrency in corporate applications.

The bank said that joining the EEA will allow them to establish cooperation with other interested players on the development of blockchain capabilities in the banking industry. Other EEA members include banking and financial firms such as JPMorgan, ING, Citi, and BBVA.

Standard Chartered notes that it considers blockchain technology of paramount importance for banking and trading in the digital age, as it allows you to verify, protect and process transactions in real-time.

Standard Chartered is an investor in the American fintech company Ripple, and also takes part in a number of other blockchain initiatives, including the Voltron trading platform and a joint digital currency project with the central banks of Thailand and Singapore.

Earlier it became known about the cooperation of Standard Chartered with Siemens in the framework of a pilot project to use the blockchain to issue bank guarantees in the field of international payments for trading operations.

Author: Marko Vidrih