Investec banks including Absa, South African, Nedbank and the Investec Reserve Bank have successfully swapped assets over a network built on the ethereum blockchain. The working group will continue to research and experiment with the technology while a request for regulatory approval is considered. Despite the promising first steps, there is currently no stated date for when the banks plan to be able to use blockchain technology to swap assets commercially.
South African banks including Absa, Investec, Nedbank and the South African Reserve Bank have successfully swapped assets over a network built on the ethereum blockchain. The working group will continue to research and experiment with the technology while a request for regulatory approval is considered. Despite the promising first steps, there is currently no stated date for when the banks plan to be able to use blockchain technology to swap assets commercially.