The bank describes the deployment as “an internal, closed blockchain”, part of a larger blockchain-based payments project, compatible with the bank’s infrastructure and work. The first customer transactions are planned for 2017, and will offer customers real-time transfers with later cut-off times.
Later, the bank plans to expand the solution to include all geographies and time zones in which SEB operates. SEB is a founding member of the R3 consortium (and has recently voiced its concerns regarding some recent developments within R3 and beyond).
According to BankingTechnology, at the beginning of 2016, SEB invested in Coinfy, a Danish fintech company, which develops solutions for blockchain payments.
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