Officials at both companies stated that they have completed initial testing for the idea, and that they are seeking to collaborate with other firms on the initiative in 2016. DBS and Standard Chartered were considering various distributed ledger technologies to achieve project goals.
Standard Chartered had previously announced its interest in this use case for the technology.
Both banks have been reportedly investigating applications for the technology as early as May of 2015.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now