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23 banks join SBI Holding's blockchain consortium

An additional 23 banks have joined 's consortium toadopt a single platform capable of processing domestic and foreign moneytransactions using blockchain technology.

The company said Oct. 3 that the total number of consortiummembers has reached 38. The new members include ,Chugoku Bank Ltd.,North Pacific BankLtd. and YamagataBank Ltd.

The company in August announced its intention to create the consortium. Itaims to use fintech company Ripple Labs' technology to build its platform andin May set up a joint venture, SBI Ripple Asia.