According to the Economic Times on Wednesday (Feb. 23, 2021), the SBI would integrate a blockchain solution developed by the U.S. banking giant JPMorgan in its banking operations. The bank is the first financial institution in India to join the blockchain network.
The partnership with JPMorgan would enable cheaper and faster transactions for SBI customers. In addition, integrating the blockchain solution would slash the time frame needed to settle cross-border inquiries from two weeks to a few hours.
