Comprehensive List of Banks using Blockchain Technology

6,192 reads

@ Mappo Joshua Blockchain consultant - Ecosystem development, adoption, & retention Featured Writer - Cointelegraph

Blockchain has been around for a number of years but has only come to mainstream media attention in the last 24 months with the rise of the ICO and the massive price increases of 2017. This time last year, the market cap of all cryptocurrencies was under $75 Billion USD; 1 year later it is over $280 Billion, and now we are on the ‘brink of collapse’ with a market cap of $230 Billion. This is still a rise of over 300%, but with this success are other industries really taking notice?

reactions

One of the industries which have been the most opposed to blockchain technology is the finance industry, but specifically banks. Initially, they saw the concept of blockchain as direct competition, actively removing the control they have over the funds and accounts of their customers. However, major players in the finance industry have increasingly begun to warm up to blockchain.

reactions

Financial institutions and other major companies are inherently slow in adopting any new technology, but have actually been exploring various use cases for some time now. So let’s take a look at which institutes have already implemented the change or are looking into it as we speak.

reactions

According to CEBNet, of the 26 publicly listed banks in China, 12 have already adopted blockchain technology for various use cases within their systems. These banks vary from state owned ones like the Bank of China, China Construction Bank and the Agriculture Bank of China, to privately owned ones, including China Merchants bank.

reactions

In the financial statement for China Construction Bank, it stated that cross-bank and cross-border loan issuances for small businesses were now running on a blockchain based platform. It also claimed that this platform had processed over $251 million USD worth of transactions.

reactions

On the same use case, the Agriculture Bank of China has developed a process of offering unsecured loans for agricultural e-commerce merchants through a decentralized network. This network provides an automatic loan issuance process.

reactions

Another separate but equally beneficial use case has come from the Bank of China. Testing has been completed for the infrastructural component of a blockchain-based digital wallet.

reactions

This is just China, but the sentiment remains positive throughout the rest of the world.

reactions

ALFA Bank from Russia, Yes Bank from India, UOB (United Overseas Bank) from Singapore, CommonWealth Bank from Australia, and LatiPay from New Zealand are a few banks that have collaborated with a US based blockchain company. The Federal Bank from India & Lulu Exchange have partnered with a Bengaluru based fin-tech company. Axis Bank, RAK Bank, & Standard Charter Bank have connected with another blockchain network. Kotak Bank, which enables blockchain based trade finance operation, partnered with Deloitte & JP Morgan Singapore.

reactions

Other use-cases within the financial sector which have been developed include simplying and speeding up cross-border payments, improving trading accuracy, reliability and shorter settlement processes. Smart contracts have created benefits with the processing of transactions by removing the need of the middle man, as well as being used to develop loyalty and rewards systems.

reactions

There are a lot more banks working within multiple technology & service providers to integrate blockchain in their Use Cases. This just demonstrates the demand in all industries for the adoption of blockchain technology. Aelf is making this possible with the aelf ecosystem and the aelf Innovation Alliance which will enable blockchain technology to be adopted and integrates into mainstream organizations large and small. This has enabled the alliance to be successful with partnerships from experts and influencers like Michael Arrington and Arrington XRP Capital, Huobi Labs, and FBG Capital. Not only do organizations now have a platform to build upon, but they have resources, capital and expert advisors at their fingertips, which is all made possible through the this revolutionary aelf initiative.

reactions

Below is a list of over 200 banks and financial institutes using or soon to be using blockchain technology:

reactions

Banks

reactions

77 Bank

reactions

AEON Bank

Akbank

Akita Bank

ANZ (Australian and New Zealand Bank)

Aomori Bank

Al Rajhi Bank

Ashikaga Bank

ATB Financial

Axis Bank

Awa Bank

reactions

Banco Bilbao Vizcaya Argentaria (BBVA)

Bank Dhofar

Bank Of America

Bank Of America Merrill Lynch

Bank Of England

Bank Of Indonesia

Bank Of Iwate

Bank Of Leumi

Bank Of Nagoya

Bank Of Okinawa

Bank Of Thailand

Bank Of The Ryukyus

Bank Of Tokyo-Mitsubishi UFJ

Bank Of Yokohama

Barclays’ investment bank

Bexs Banco De Cambio

BMO Financial Group (Bank of Montreal)

BNP Paribas

BNY Mellon

reactions

CBW Bank (Citizens Bank Of Weir)

Chiba Bank

Chiba Kogyo Bank

Chugoku Bank (Bank of China)

CIBC (Canadian Imperial commercial banks)

Citi

Coast Capital Savings

Commerzbank

Commonwealth Bank Of Australia

Credit Agricole

Credit Suisse

Cross River Bank

Cuallix

reactions

Daishi Bank

Daiwa Next Bank

DBS Bank (Development Bank of Singapore)

Deloitte

Deutsche Börse

reactions

Ehime Bank

reactions

Federal Bank of India

Federal Reserve System

Fidor Bank

Fukui Bank

reactions

Gunma Bank

reactions

Hachijuni Bank

Hiroshima Bank

HOKURIKU BANK

HSBC (Hong Kong Shanghai Bank)

HYAKUGO BANK

reactions

IndusInd Bank (Indus India Bank)

Intesa Sanpaolo (Intesa Sanpaolo)

Itau Unibanco

Iyo Bank

reactions

Japan Post Bank

JPMorgan

Juroku Bank

reactions

Keiyo Bank

Kotak Mahindra Bank

Krungsri (Bank Of Ayudhya / Bank of Ayudhya)

Kuwait Finance House

reactions

Macquarie Group

Michinoku Bank

Mitsubishi UFJ Trust And Banking Corporation

Mizuho Financial Group

Monetary Authority Of Singapore

Morgan Stanley

Musashino Bank

reactions

National Australia Bank

National Bank Of Abu Dhabi (NBAD)

National Bank Of Kuwait

Natixis

NISHI-NIPPON CITY BANK

Nomura Trust And Banking Company

Nordea Bank

Norinchukin Bank

North Pacific Bank

NPCI (National Payments Corporation Of India)

reactions

Oita Bank

ORIX Bank

Oversea-Chinese Banking Corporation

PKO BP

reactions

Rabobank Nederland

RAKBANK (National Bank Of Ras Al-Khaimah PJSC)

ReiseBank

Reserve Bank Of India

Resona Bank

Royal Bank Of Canada

Royal Bank Of Scotland

reactions

SAN-IN GODO BANK

Santander Bank

Saudi Arabian Monetary Authority (SAMA)

SBI Sumishin Net Bank

Scotiabank (Nova Scotia Bank)

SEB

Senshu Ikeda Bank

Seven Bank

Shanghai Huarui Bank (SHRB / Shanghai HanaMizuho Bank)

Shiga Bank

Shikoku Bank

Shimizu Bank

Shinhan Bank

Shinkin Central Bank

Shinsei Bank

Shoko Chukin Bank

Siam Commercial Bank

Skandinaviska Enskilda Banken (SEB)

Societe General

Sony Bank

Standard Chartered Bank

Star One Credit Union

Sumitomo Mitsui Banking Corporation

Sumitomo Mitsui Trust Bank

Suruga Bank

Switzerland’s UBS

reactions

Tochigi Bank

Toho Bank

Tokyo Star Bank

Toronto-Dominion Bank

Towa Bank

Tsukuba Bank

reactions

UBS

United Overseas Bank

UniCredit

reactions

Westpac Bank

Woori Bank

reactions

Yachiyo Bank

Yamagata Bank

Yamaguchi Bank

Yes Bank

reactions

Other institutes related to Financial Services

reactions

Accenture

Ainslie Bullion

AirWallex

ALFAcashier

American Express

AstroPay

Australian Stock Exchange and Depository Trust

reactions

Banquecorp Physical Gold

BCS Information Systems

BeeTech

Bill & Melinda Gates Foundation

BitcoinIRA

BitGo

Bluzelle

reactions

Cambridge Global Payments

CGI

Clearing Corporation [DTCC]

Coil

Crypto Facilities

Currencies Direct

reactions

DAYLI Financial Group

Deloitte Touche Tohmatsu

DH Corporation

Dinex

DLocal

reactions

Earthport

Everis

Exchange4Free

Expanse

Expertus Technologies

EZforex

reactions

FairFX

FlashFX

reactions

Global ID

Gold Bullion International

GSR Markets

reactions

IBM

IDT Corporation

Infocomm Development Authority Of Singapore

Infosys

InstaReM

IntellectEU

International Foreign Exchange (IFX)

reactions

Jaccoo

reactions

LatiPay

Lianlian Pay.

Lulu Exchange

reactions

Marqeta

Mastercard

MIT (Massachusetts Institute of Technology)

MoneyMatch

Mercury FX

MoneyGram

reactions

New Forest Capital

reactions

OANDA

Omni

reactions

Paycase Financial

Persistent Systems

PolySign

reactions

R3 CEV

RationalFX

RIALTO.AI

reactions

Saldo.Mx

SAP

SBI Holdings

SBI Remit

SBI Ripple Asia

SBI Virtual Currencies

Singapore Exchange (SGX)

Smart Token Chain

Sparro

SWIFT (Society for Worldwide Interbank Financial Telecommunication)

reactions

TAS Group

Tata Consultancy Services (TCS)

Telindus

Temenos

The PAR Foundation

The Royal Mint

TransferGo

reactions

UAE Exchange (UAE Exchange)

Union FX

UniPAY

reactions

Viamericas Corporation

Volante Technologies

reactions

Western Union

reactions

Yantra Financial Technologies

reactions

Zip Remit

reactions

If you find a bank or financial institute not on this list please comment or message me directly so I can add to this list. At the time of writing this was the most comprehensive list available to the public

reactions

Mappo has been investing and trading in fiat currencies since 2013. He has recently moved into the crypto world spreading his portfolio over long term coin investments, ICOs and day trading.

reactions

#Cryptocurrency #ICO #exchange #bitcoin #Crypto #blockchain #Aelf #Mappo

reactions

Share this story @ Mappo Joshua Read my stories Blockchain consultant - Ecosystem development, adoption, & retention Featured Writer - Cointelegraph

Tags