R3 signs up BM&FBovespa as first exchange

The R3 consortium, which focuses on the joint development of distributed ledger technologies, is adding its first stock exchange with Brazil’s BM&FBovespa coming on board.

It joins the 60+ companies strong consortium that includes banks such as Goldman Sachs, US insurance giant MetLife and data and news agency Thompson Reuters, as the range of firms involved in the group continues to expand.

São Paulo-based BM&FBovespa will work with the group to develops Corda, a shared ledger designed to record, manage and synchronise agreements between financial institutions.

“Distributed ledgers hold a promise for process efficiencies and we want to work with our customers to evaluate real use cases,” said Jochen Mielke de Lima, IT MD at BM&FBovespa.

Copyright © 2016 FINTECH GLOBAL

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