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 2002, 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."
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."