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Japan's Fukui Bank joins SBI-led fintech consortium

Japanese lender Fukui Bank Ltd. joined SBI Ripple Asia, a financial technology consortium led by SBI Holdings Inc., EconoTimes reported Dec. 28.

Following the move, a total of 43 financial institutions have become members of the consortium, a joint venture of SBI Holdings and distributed ledger technology provider Ripple. It is currently testing a number of finance-related technologies, including blockchain databases.

Experimental trials are expected to be completed in the first quarter of 2017.