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.

 

About Richard Kastelein

Founder, Publisher and Editor in Chief of Blockchain News and co-founder and director at Blockchain Partners in London/Amsterdam/NYC, Richard Kastelein is also an advisor with a number Blockchain startups doing ICOs including DECENT.ch, Inchain, Humaniq, Chronobank, eGaas and others.

He is regarded as one of the top journalists by the Blockchain and fintech communities – as is evident by his entry in the Top 150 Fintech journalists online and in the top 10 of the Blockchain Top 100 List. As a prominent keynote presenter, he has spoken on Blockchain at events in Gdansk, Amsterdam, Minsk, Dubai, Antwerp, Eindhoven etc, where he helped spread the cause for Blockchain technology and crypto-currency and, consequently, has built a notable network inthe scene.

In 2013, the European Commission appointed him as an expert for overseeing financing for emerging startups as a part of the European Commission’s 90 billion euro Horizon 2020 project, created in Brussels to promote innovation as a driving force of job creation and business ventures across Europe. He has also worked as an external expert for Innovate UK since 2012, judging startups for the UK government.

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