New entrants to the group include Banco Santander, Danske Bank, Intesa Sanpaolo, Natixis, Nomura, Northern Trust, OP Financial Group, Scotiabank, Sumitomo Mitsui Banking Corporation, US Bancorp, Westpac Banking Corporation and BMO Financial Group.
The consortium, announced in September 2015, is focused on proof-of-concept experimentation and the development of standards for blockchain tech. Its creation followed a series of workshops and meetings conducted with banks, some of which later signed on to the group.
The consortium’s membership has grown since the first nine members were announced in the fall. In the past few months, 33 more banks have joined the initiative. With the new entrants, the total number of banks involved with the consortium rises to 42.
R3 indicated that its initial window for membership into the consortium has closed, but said that in 2016 it will seek to work with non-bank financial institutions and groups.
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