In this article we will talk about the new OCBC Blockchain tests.
One of the major banks in Singapore, in fact, decided to test a distributed ledger payment service, with the goal to develop new commercial products created thanks to this revolutionary techonolgy.
OCBC started to use the ledger to send money between its operations in Singapore and Malaysia, as well as do transactions with the Bank of Singapore, one of its own private financial group.
To do so, the bank explained it worked with the BCS Information Services, a local financial brand that helped to do the OCBC Blockchain tests.
This is only the latest test in the Asia’s banking sector. Read more news about the blockchain tests and researches made in Asia previously this year.
OCBC senio vice president, Praveen Raina explained to Coindesk:
“We hope this will be a catalyst for more banks to adopt the blockchain technology so that, together, we can achieve efficiency and cost effectiveness while delivering more high-value financial services to our consumers.”
The bank announced its news on its official website, but currently the details of this announcement appear to have been removed.
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