First stock exchange joins R3 Blockchain Consortium

The news comes as more financial institutions and startups in the Latin American region and around the globe begin to experiment with blockchain technology. BM&F Bovespa representatives said that the company is looking to future-proof its markets by exploring use cases for the technology. What aspects of the technology BM&F Bovespa would look to integrate is not specified, but recent news that the company is beefing up its market surveillance efforts indicates it could have an interest in mechanisms for increasing transparency, according to CoinDesk.

The exchange, which traces its origins back to the 1890s, has spent much of the past year growing its footprint within Latin America as a major destination for stock activity.

The joining R3 consortium announcement follows the addition of insurance giant MetLife and Chinese financial institution China Merchants Bank.