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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