Visa and BTL Group have partnered for a pilot scheme in which bank-to-bank transactions can be made using a blockchain proof-of-concept. The pilot, which involves several as-yet unnamed European institutions and is set to run until the early months of next year, uses BTL’s cross-border settlement platform Interbit with smart contracts to ensure regulation and regional compliance. According to an announcement on Visa’s website, the company has signed up banks including Barclays, HSBC, Santander, UniCredit, Bank of America Merrill Lynch, UBS, Credit Suisse, Deutsche Bank, ING Group, Rab@@ Guy Halford-Thompson, CEO of BTL said the company was interested in "how the money moves between those financial institutions."
Visa and BTL Group have partnered for a pilot scheme in which bank-to-bank transactions can be made using a blockchain proof-of-concept. The pilot, which involves several as-yet unnamed European institutions and is set to run until the early months of next year, uses BTL’s cross-border settlement platform Interbit with smart contracts to ensure regulation and regional compliance. Currently, there is no limit to the amount transferred on the platform. Guy Halford-Thompson, CEO of BTL said the company was interested in "how the money moves between those financial institutions."