China Foreign Exchange Trade System joins R3 blockchain consortium

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Financial innovation firm R3 has announced the addition of China Foreign Exchange Trade System (CFETS), China’s official interbank market trading platform, to its consortium to design and apply distributed and shared ledger-inspired technologies to financial markets.

David Rutter, CEO of R3 commented:

“Acknowledging the Chinese renminbi’s growing prominence in trading and the crucial role China holds in the global financial markets, we are delighted to welcome CFETS to the R3 consortium.”

Headquartered in Shanghai, CFETS services cover issuance, trading, information and post-trade for cash and derivative RMB-denominated interest rate, exchange rate and related products.

 

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Richard Kastelein is the Founder, Publisher and Editor in Chief of industry leading online publication, Blockchain News, co-founder and director at education company Blockchain Partners and partner of token design and ICO marketing company CryptoAlchemy.

As a prominent keynote presenter, Kastelein has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven, Bucharest, Munich, Nairobi, Tel Aviv, Manchester, Brussels, Barcelona etc, where he helped spread the cause for Blockchain technology and cryptocurrency and, consequently, has built a notable network in the scene.

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