Blockchain for Banking News

Which banks are part of JP Morgan’s blockchain network

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JP Morgan’s Interbank Information Network has grown to more than 220 banks. Below is a list of 197 banks who were willing to disclose involvement in the blockchain payment information network as at the end of March. That’s up from 157 just three months ago. Plus there are plans to considerably expand IIN’s functionality and open it up to third-party developers.

Today IIN is primarily used to exchange data relating to compliance for payments, as opposed to making the payments. The aim is to address problem payments that take much longer.

Most international payments will still use SWIFT with its 11,000 banks. Although the SWIFT GPI upgrade enabled payment tracking, it doesn’t provide the communications needed to resolve compliance queries.

“Historically, correspondent banks communicate one-way, bank-to-bank, but we have transformed their interaction,” said Suresh Shetty, Blockchain Technology Lead for IIN. “When a payment detail is flagged for confirmation, different parties can interact simultaneously, requesting and sharing information.”

IIN enables the parties to share information in a permissioned way. The platform uses Quorum, the enterprise version of Ethereum developed by JP Morgan.

“The more banks that join the network, the more dramatic the reduction in payment delays,” said John Hunter, Head of Global Clearing for Treasury Services. “As the network scales, our clients’ payments will be processed faster with less operational expense.”

According to the Financial Times, Hunter said there are plans to add more functionality at the point of settlement. That’s over an above a new feature that will enable target bank accounts to be validated.

The current iteration is called IIN Resolve. A mockup indicates that future versions might include insurance.

The IIN system will go into production in the third quarter for both domestic and foreign payment data, with the most utility expected for international payments.

Plus JP Morgan plans to open up the network to third-party developers with a test network available in the third quarter. They will be able to leverage elements such as secure messaging, document file transfer and data modeling.

Many see IIN as trying to address challenges from Ripple and Stellar. One question is whether the secure messaging is purely via blockchain. If so, in some ways it competes with Symphony, the messaging technology company spun out of Goldman Sachs.

Previous IIN Articles:
JP Morgan’s blockchain payment network has 157 banks
JP Morgan talks blockchain payments
JP Morgan blockchain payments network has 75 banks

List of IIN banks


Banca Mifel
Banco Actinver, S.A.
Banco Aliado
Banco BICE
Banco BCT SA
Banco Bisa
Banco Bradesco S.A.
Banco CMF S.A.
Banco Davivienda S.A.
Banco Daycoval S.A.
Banco de Bogota
Banco de Crédito del Perú
Banco de Galicia y Buenos Aires
Banco do Brasil New York Branch

Banco Ganadero
Banco General
Banco Industrial
Banco Internacional del Peru
Banco Lafise
Banco Mercantil Santa Cruz
Banco Nacional de Bolivia
Banco Nacional de Costa Rica
Banco Nacional de Panama
Banco Popular Dominicano
Banco Regional
Banco Security
Bank of Bahamas Limited

Bank of Montreal
BCT Bank International
Credicorp Bank
First Tennessee Bank
Global Bank Corporation
Grupo Bursátil Mexicano
Itau Unibanco S.A.
JPMorgan Chase
National Bank of Canada
Republic Bank
Royal Bank of Canada
The Toronto-Dominion Bank
Banco Inbursa S.A.
Banco Continental


Alior Bank SA
Allied Irish Bank
Banca Monte dei Paschi di Siena S.p.A
Banco de Investimento Global S.A.
Banco de Sabadell
Banco Santander
Bank Hapoalim B.M.
Bank Leumi Le-Israel B.M
Bank Polska Kasa Opieki S.A.
Banque Internationale de Commerce – BRED (Suisse) SA
Banque Thaler SA
Bayerische Landesbank

CBH Compagnie Bancaire Helvétique S.A.
CIM Banque S.A Geneve
Cooperatieve Rabobank U.A.
Credit Agricole S.A.
Danske Bank
Erste Group Bank AG
Gonet & Cie SA
Helaba -Landesbank Hessen -Thuringen
Israel Discount Bank Limited
Nationwide Building Society

Norddeutsche Landesbank Girozentrale
PKO Bank Polski S.A.
Privatbank IHAG Zurich AG
Reyl & Cie SA
Skandinaviska Enskilda Banken
Société Générale
The First International Bank of Israel Ltd
UniCredit (through its subsidiary UniCredit Bank Austria)
Caixa Central de Credito Agricola Mutuo
UBS Switzerland AG
Banca Popolare Di Sondrio S.C.P.A.


Australia and New Zealand Banking Group Limited
Axis Bank Limited
Bank of Dalian Co., Ltd
Bank of Nanjing
BRAC Bank Limited
China CITIC Bank International Limited
China Guangfa Bank
China Zheshang Bank
Chong Hing Bank Limited
Eastern Bank Limited
East West Banking Corporation
Ho Chi Minh City Development Joint Stock Commercial Bank
ICICI Bank Limited
Indovina Bank Ltd
Industrial Bank Co., Ltd
Joint Stock Commercial Bank for Investment and Development of Vietnam
KASIKORNBANK Public Company Limited
KEB Hana Bank
Military Commercial Joint Stock Bank
Mizuho Bank, Ltd.
MUFG Bank, Ltd.

Nanyang Commercial Bank (China), Limited
National Australia Bank Limited
NongHyup Bank
Prime Bank Limited
PT Bank Central Asia Tbk
PT Bank CIMB Niaga Tbk
PT Bank Negara Indonesia (Persero) Tbk
Resona Bank, Ltd.
Rizal Commercial Banking Corporation
The Minato Bank, Ltd.
Saigon Thuong Tin Commercial Joint Stock Bank
Shanghai Rural Commercial Bank
Shinhan Bank
Sumitomo Mitsui Banking Corporation
Taipei Star Bank
Taishin International Bank Co., Ltd
The 77 Bank, LTD.

The Bank of Nagoya, Ltd.
The Norinchukin Bank
Union Bank Of The Philippines
Vietnam Joint Stock Commercial Bank for Industry and Trade
Westpac Banking Corporation
Woori Bank
Yes Bank Limited
The Bank of Kyoto, Ltd.
Kansai Urban Banking Corporation
The Kinki Osaka Bank, Limited
The Minato Bank, Ltd.
The Musashino Bank, Ltd.
The Tajima Bank, Ltd.
Aozora Bank, Ltd.
Bank of the Ryukyus, Limited
The Aichi Bank, Ltd.
Shinsei Bank, Limited
The Bank of Okinawa, Ltd.
The Gunma Bank, Ltd.
The Higo Bank, Ltd.
The Oita Bank, Ltd.
Union Bank of India

Eastern Europe, Middle East and Africa

Ahli United Bank B.S.C
Al Rajhi Banking & Investment Corporation
Alawwal Bank
Alfa Bank Joint Stock Company
Allied Bank Limited
Arab Jordan Investment Bank
Bank ABC (Arab Banking Corporation B.S.C.)
Bank Al Habib Limited
Bank Alfalah Limited
Bank Muscat
Bank of Sharjah
Barclays Bank Tanzania Limited
Barclays Bank Zambia PLC
Banque du Caire SAE
Banque Libano-Francaise SAL
Cairo Amman Bank PLC
Commercial Bank of Africa Limited
Commercial International Bank (Egypt) S.A.E

Credit Bank of Moscow
Credit Libanais SAL
DenizBank A.S.
Export Development Bank of Egypt
Fransabank El Djazair SPA
Fransabank SAL
Habib Metropolitan Bank Limited
The Housing Bank of Trade and Finance – Algeria
Joint-Stock Company BCS-Investment Bank
Jordan Islamic Bank
JS Bank Limited
KCB Bank Kenya Limited
Kuveyt Turk Katilim Bankasi A.S.
Kuwait Finance House
MauBank Limited
MCB Bank Limited
Meezan Bank Limited
National Bank of Fujairah P. J.S.C.
National Bank of Kenya Limited

National Bank of Kuwait S.A.K.P.
Nedbank Limited
Odea Bank Anonim Sirketi
Saradar Bank SAL
Soneri Bank Limited
The Housing Bank for Trade and Finance
Turkiye Finans Katilim Bankasi A.S
Turkiye Vakiflar Bankasi T.A.O.
Bank Audi SAL
National Bank of Kuwait – Egypt
QNB Finansbank A.S.
Sohar International Bank
Standard Bank (Mauritius) Limited
Standard Bank of South Africa Limited
Bank of Beirut SAL
Bank Saint Petersburg
Gulf International Bank B.S.C