Bank of Lithuania's LBChain project reaches the finish line

Monday 25 May 2020 09:55 CET | News

The Bank of Lithuania’s LBChain project – a unique blockchain-based sandbox – has reached the end of its third and final stage.

On 26 May 2020, the Bank of Lithuania will hold a wrap-up session to discuss the final project results and present its plans. IBM Polska Sp. z.o.o. and TietoEVRY – the developers of LBChain – will present their final solutions, while the fintech companies will sum up their experience gained during the testing phase. The Bank of Lithuania will also announce its plans for LBChain.

In its development stages, LBChain has already been used by 11 fintechs from 8 countries to test more than 10 different products and solutions. LBChain is a blockchain-based sandbox that combines regulatory and technological infrastructures, allowing fintech companies to test their business solutions in a controlled environment.

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Keywords: fintechs, blockchain, Bank of Lithuania, TietoEVRY, IBM, LBChain, Lithuania
Categories: DeFi & Crypto & Web3
Countries: Lithuania
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DeFi & Crypto & Web3

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