Today Hedera Hashgraph announced that Standard Bank is adopting its public permissioned distributed ledger technology (DLT) network. The bank will also join the governing council that includes several financial companies such as Nomura, payments firms FIS / Worldpay and eftpos, and several major technology firms such as Google and IBM.
The nodes and governing council are gradually becoming more geographically diverse with the addition of South Africa’s largest bank, following the Australian payment system eftpos that recently joined.
“As an organisation, we have established that blockchain technology can track and leapfrog legacy issues that prevent a seamless and transparent payment experience for the customer, which ultimately enables cost savings for all stakeholders,” said Adrian Vermooten, Standard Bank’s Chief Innovation Officer.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
