Independent Tech & Cryptocurrency News
Bitcoin
$6,350.38
-13.77
(-0.22%)
Ethereum
$207.39
-2.12
(-1.01%)
Ripple
$0.51
-0.01
(-1.54%)
Litecoin
$49.66
-0.98
(-1.94%)
EOS
$5.31
-0.12
(-2.21%)
Cardano
$0.07
-0
(-3.24%)
Stellar
$0.25
-0.02
(-6.37%)
NEO
$15.51
-0.21
(-1.34%)
NEM
$0.11
-0.01
(-6.66%)
DigitalCash
$163.12
-1.63
(-0.99%)
Tether
$0.97
-0.01
(-0.59%)
Binance Coin
$9.20
QTUM
$3.67
-0.06
(-1.61%)
Verge
$0.01
-0
(-2.74%)
Ontology
$1.55
0
(0%)
ZCash
$129.49
-5.62
(-4.16%)
Steem
$0.72

Comprehensive List of Banks using Blockchain Technology

0


Blockchain has been around for a number of years but has only come to mainstream media attention in the last 24 months with the rise of the ICO and the massive price increases of 2017. This time last year, the market cap of all cryptocurrencies was under $75 Billion USD; 1 year later it is over $280 Billion, and now we are on the ‘brink of collapse’ with a market cap of $230 Billion. This is still a rise of over 300%, but with this success are other industries really taking notice?

One of the industries which have been the most opposed to blockchain technology is the finance industry, but specifically banks. Initially, they saw the concept of blockchain as direct competition, actively removing the control they have over the funds and accounts of their customers. However, major players in the finance industry have increasingly begun to warm up to blockchain.

Financial institutions and other major companies are inherently slow in adopting any new technology, but have actually been exploring various use cases for some time now. So let’s take a look at which institutes have already implemented the change or are looking into it as we speak.

According to CEBNet, of the 26 publicly listed banks in China, 12 have already adopted blockchain technology for various use cases within their systems. These banks vary from state owned ones like the Bank of China, China Construction Bank and the Agriculture Bank of China, to privately owned ones, including China Merchants bank.

In the financial statement for China Construction Bank, it stated that cross-bank and cross-border loan issuances for small businesses were now running on a blockchain based platform. It also claimed that this platform had processed over $251 million USD worth of transactions.

On the same use case, the Agriculture Bank of China has developed a process of offering unsecured loans for agricultural e-commerce merchants through a decentralized network. This network provides an automatic loan issuance process.

Another separate but equally beneficial use case has come from the Bank of China. Testing has been completed for the infrastructural component of a blockchain-based digital wallet.

This is just China, but the sentiment remains positive throughout the rest of the world.

ALFA Bank from Russia, Yes Bank from India, UOB (United Overseas Bank) from Singapore, CommonWealth Bank from Australia, and LatiPay from New Zealand are a few banks that have collaborated with a US based blockchain company. The Federal Bank from India & Lulu Exchange have partnered with a Bengaluru based fin-tech company. Axis Bank, RAK Bank, & Standard Charter Bank have connected with another blockchain network. Kotak Bank, which enables blockchain based trade finance operation, partnered with Deloitte & JP Morgan Singapore.

Other use-cases within the financial sector which have been developed include simplying and speeding up cross-border payments, improving trading accuracy, reliability and shorter settlement processes. Smart contracts have created benefits with the processing of transactions by removing the need of the middle man, as well as being used to develop loyalty and rewards systems.

There are a lot more banks working within multiple technology & service providers to integrate blockchain in their Use Cases. This just demonstrates the demand in all industries for the adoption of blockchain technology. Aelf is making this possible with the aelf ecosystem and the aelf Innovation Alliance which will enable blockchain technology to be adopted and integrates into mainstream organizations large and small. This has enabled the alliance to be successful with partnerships from experts and influencers like Michael Arrington and Arrington XRP Capital, Huobi Labs, and FBG Capital. Not only do organizations now have a platform to build upon, but they have resources, capital and expert advisors at their fingertips, which is all made possible through the this revolutionary aelf initiative.

Below is a list of over 200 banks and financial institutes using or soon to be using blockchain technology:

Banks

77 Bank

AEON Bank
 Akbank
 Akita Bank
 ANZ (Australian and New Zealand Bank)
 Aomori Bank
 Al Rajhi Bank 
 Ashikaga Bank
 ATB Financial 
 Axis Bank 
 Awa Bank

Banco Bilbao Vizcaya Argentaria (BBVA)
 Bank Dhofar 
 Bank Of America 
 Bank Of America Merrill Lynch 
 Bank Of England 
 Bank Of Indonesia
 Bank Of Iwate
 Bank Of Leumi 
 Bank Of Nagoya
 Bank Of Okinawa
 Bank Of Thailand 
 Bank Of The Ryukyus
 Bank Of Tokyo-Mitsubishi UFJ
 Bank Of Yokohama
 Barclays’ investment bank
 Bexs Banco De Cambio 
 BMO Financial Group (Bank of Montreal)
 BNP Paribas 
 BNY Mellon

CBW Bank (Citizens Bank Of Weir)
 Chiba Bank 
 Chiba Kogyo Bank
 Chugoku Bank (Bank of China) 
 CIBC (Canadian Imperial commercial banks)
 Citi
 Coast Capital Savings
 Commerzbank
 Commonwealth Bank Of Australia 
 Credit Agricole
 Credit Suisse
 Cross River Bank 
 Cuallix

Daishi Bank
 Daiwa Next Bank
 DBS Bank (Development Bank of Singapore)
 Deloitte
 Deutsche Börse

Ehime Bank

Federal Bank of India
 Federal Reserve System
 Fidor Bank 
 Fukui Bank

Gunma Bank

Hachijuni Bank
 Hiroshima Bank
 HOKURIKU BANK
 HSBC (Hong Kong Shanghai Bank)
 HYAKUGO BANK

IndusInd Bank (Indus India Bank) 
 Intesa Sanpaolo (Intesa Sanpaolo) 
 Itau Unibanco
 Iyo Bank

Japan Post Bank
 JPMorgan
 Juroku Bank

Keiyo Bank
 Kotak Mahindra Bank
 Krungsri (Bank Of Ayudhya / Bank of Ayudhya) 
 Kuwait Finance House

Macquarie Group 
 Michinoku Bank
 Mitsubishi UFJ Trust And Banking Corporation
 Mizuho Financial Group 
 Monetary Authority Of Singapore 
 Morgan Stanley
 Musashino Bank

National Australia Bank 
 National Bank Of Abu Dhabi (NBAD) 
 National Bank Of Kuwait 
 Natixis
 NISHI-NIPPON CITY BANK
 Nomura Trust And Banking Company
 Nordea Bank
 Norinchukin Bank
 North Pacific Bank
 NPCI (National Payments Corporation Of India)

Oita Bank
 ORIX Bank
 Oversea-Chinese Banking Corporation
 PKO BP

Rabobank Nederland
 RAKBANK (National Bank Of Ras Al-Khaimah PJSC) 
 ReiseBank
 Reserve Bank Of India 
 Resona Bank
 Royal Bank Of Canada 
 Royal Bank Of Scotland

SAN-IN GODO BANK
 Santander Bank 
 Saudi Arabian Monetary Authority (SAMA) 
 SBI Sumishin Net Bank
 Scotiabank (Nova Scotia Bank) 
 SEB
 Senshu Ikeda Bank
 Seven Bank
 Shanghai Huarui Bank (SHRB / Shanghai HanaMizuho Bank) 
 Shiga Bank
 Shikoku Bank
 Shimizu Bank 
 Shinhan Bank
 Shinkin Central Bank
 Shinsei Bank
 Shoko Chukin Bank
 Siam Commercial Bank
 Skandinaviska Enskilda Banken (SEB) 
 Societe General
 Sony Bank
 Standard Chartered Bank
 Star One Credit Union
 Sumitomo Mitsui Banking Corporation
 Sumitomo Mitsui Trust Bank 
 Suruga Bank
 Switzerland’s UBS

Tochigi Bank
 Toho Bank
 Tokyo Star Bank
 Toronto-Dominion Bank
 Towa Bank
 Tsukuba Bank

UBS
 United Overseas Bank
 UniCredit

Westpac Bank
 Woori Bank

Yachiyo Bank
 Yamagata Bank
 Yamaguchi Bank
 Yes Bank

Other institutes related to Financial Services

Accenture 
 Ainslie Bullion
 AirWallex
 ALFAcashier
 American Express
 AstroPay
 Australian Stock Exchange and Depository Trust

Banquecorp Physical Gold
 BCS Information Systems
 BeeTech
 Bill & Melinda Gates Foundation
 BitcoinIRA
 BitGo
 Bluzelle

Cambridge Global Payments
 CGI
 Clearing Corporation [DTCC]
 Coil
 Crypto Facilities
 Currencies Direct

DAYLI Financial Group
 Deloitte Touche Tohmatsu
 DH Corporation
 Dinex
 DLocal

Earthport 
 Everis
 Exchange4Free
 Expanse
 Expertus Technologies
 EZforex

FairFX
 FlashFX

Global ID
 Gold Bullion International
 GSR Markets

IBM
 IDT Corporation
 Infocomm Development Authority Of Singapore
 Infosys 
 InstaReM
 IntellectEU
 International Foreign Exchange (IFX)

Jaccoo

LatiPay
 Lianlian Pay.
 Lulu Exchange

Marqeta
 Mastercard
 MIT (Massachusetts Institute of Technology)
 MoneyMatch
 Mercury FX
 MoneyGram

New Forest Capital

OANDA
 Omni

Paycase Financial
 Persistent Systems
 PolySign

R3 CEV
 RationalFX
 RIALTO.AI

Saldo.Mx
 SAP
 SBI Holdings
 SBI Remit
 SBI Ripple Asia
 SBI Virtual Currencies
 Singapore Exchange (SGX)
 Smart Token Chain
 Sparro
 SWIFT (Society for Worldwide Interbank Financial Telecommunication)

TAS Group
 Tata Consultancy Services (TCS)
 Telindus
 Temenos
 The PAR Foundation
 The Royal Mint
 TransferGo

UAE Exchange (UAE Exchange) 
 Union FX
 UniPAY

Viamericas Corporation
 Volante Technologies

Western Union

Yantra Financial Technologies

Zip Remit

If you find a bank or financial institute not on this list please comment or message me directly so I can add to this list. At the time of writing this was the most comprehensive list available to the public

Mappo has been investing and trading in fiat currencies since 2013. He has recently moved into the crypto world spreading his portfolio over long term coin investments, ICOs and day trading.

#Cryptocurrency #ICO #exchange #bitcoin #Crypto #blockchain #Aelf #Mappo





https://hackernoon.com

Get real time updates directly on you device, subscribe now.

Leave A Reply

Your email address will not be published.