Major Latin American Bank Conglomerate Itau to Create Blockchain Platform for Small Loans

Brazil’s largest private bank has partnered with United Kingdom bank Standard Chartered (LON:STAN) to create a blockchain-based platform for small loans, according to a press release published by Itau Tuesday, Dec. 4.

Itau Unibanco, also a major Latin American banking group, and Standard Chartered both offer international banking services. The two entities have successfully conducted a proof-of-concept (PoC) for the mentioned platform, based on Corda Connect developed by New York-based blockchain startup R3.

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