Standard Chartered latest bank to join Enterprise Ethereum Alliance
Standard Chartered has joined the Enterprise Ethereum Alliance (EEA), the standards organisation based on the development of blockchain specifications.
The EEA aims to further blockchain research and development
As a member of the EEA, Standard Chartered will collaborate with industry leaders to produce Ethereum-based enterprise technology best practices, open standards, and open-source reference architectures.
“Technology enables us to facilitate trade and investment across our footprint markets, improving client experiences and offering new services,” says Dr Michael Gorriz, group CIO at Standard Chartered.
“We are excited to be a part of the EEA and look forward to opportunities where we can collaborate with other leading industry players to deepen blockchain research and application in the banking sector.”
Related: Thought Machine to power Standard Chartered’s new Hong Kong bank
The EEA includes member banks like BNY Mellon, Banco Santander, JP Morgan Chase, and Sberbank.
Standard Chartered, for its part, is one of the founding members of Voltron, a blockchain-based open industry platform that was launched in October 2018 to digitally create, exchange, approve and issue Letters of Credits (LCs), and recently issued the first LC over the platform for the oil industry.
It is also co-creating blockchain-enabled supply chain financing solutions with China-based Linklogis, and inked a partnership with Ant Financial to launch the world’s first blockchain-enabled cross-border remittance service from Hong Kong to the Philippines.
