Comprehensive List of Banks using Blockchain Technology

Blockchain has been around for a number of years but has only come to mainstream media attention in the last 24 months with the rise of the ICO and the massive price increases of 2017. This time last year, the market cap of all cryptocurrencies was under $75 Billion USD; 1 year later it is over $280 Billion, and now we are on the ‘brink of collapse’ with a market cap of $230 Billion. This is still a rise of over 300%, but with this success are other industries really taking notice?

One of the industries which have been the most opposed to blockchain technology is the finance industry, but specifically banks. Initially, they saw the concept of blockchain as direct competition, actively removing the control they have over the funds and accounts of their customers. However, major players in the finance industry have increasingly begun to warm up to blockchain.

Financial institutions and other major companies are inherently slow in adopting any new technology, but have actually been exploring various use cases for some time now. So let’s take a look at which institutes have already implemented the change or are looking into it as we speak.

According to CEBNet, of the 26 publicly listed banks in China, 12 have already adopted blockchain technology for various use cases within their systems. These banks vary from state owned ones like the Bank of China, China Construction Bank and the Agriculture Bank of China, to privately owned ones, including China Merchants bank.

In the financial statement for China Construction Bank, it stated that cross-bank and cross-border loan issuances for small businesses were now running on a blockchain based platform. It also claimed that this platform had processed over $251 million USD worth of transactions.

On the same use case, the Agriculture Bank of China has developed a process of offering unsecured loans for agricultural e-commerce merchants through a decentralized network. This network provides an automatic loan issuance process.

Another separate but equally beneficial use case has come from the Bank of China. Testing has been completed for the infrastructural component of a blockchain-based digital wallet.

This is just China, but the sentiment remains positive throughout the rest of the world.

ALFA Bank from Russia, Yes Bank from India, UOB (United Overseas Bank) from Singapore, CommonWealth Bank from Australia, and LatiPay from New Zealand are a few banks that have collaborated with a US based blockchain company. The Federal Bank from India & Lulu Exchange have partnered with a Bengaluru based fin-tech company. Axis Bank, RAK Bank, & Standard Charter Bank have connected with another blockchain network. Kotak Bank, which enables blockchain based trade finance operation, partnered with Deloitte & JP Morgan Singapore.

Other use-cases within the financial sector which have been developed include simplying and speeding up cross-border payments, improving trading accuracy, reliability and shorter settlement processes. Smart contracts have created benefits with the processing of transactions by removing the need of the middle man, as well as being used to develop loyalty and rewards systems.

There are a lot more banks working within multiple technology & service providers to integrate blockchain in their Use Cases. This just demonstrates the demand in all industries for the adoption of blockchain technology. Aelf is making this possible with the aelf ecosystem and the aelf Innovation Alliance which will enable blockchain technology to be adopted and integrates into mainstream organizations large and small. This has enabled the alliance to be successful with partnerships from experts and influencers like Michael Arrington and Arrington XRP Capital, Huobi Labs, and FBG Capital. Not only do organizations now have a platform to build upon, but they have resources, capital and expert advisors at their fingertips, which is all made possible through the this revolutionary aelf initiative.

Below is a list of over 200 banks and financial institutes using or soon to be using blockchain technology:

Banks

77 Bank

AEON Bank Akbank Akita Bank ANZ (Australian and New Zealand Bank) Aomori Bank Al Rajhi Bank Ashikaga Bank ATB Financial Axis Bank Awa Bank

Banco Bilbao Vizcaya Argentaria (BBVA) Bank Dhofar Bank Of America Bank Of America Merrill Lynch Bank Of England Bank Of Indonesia Bank Of Iwate Bank Of Leumi Bank Of Nagoya Bank Of Okinawa Bank Of Thailand Bank Of The Ryukyus Bank Of Tokyo-Mitsubishi UFJ Bank Of Yokohama Barclays’ investment bank Bexs Banco De Cambio BMO Financial Group (Bank of Montreal) BNP Paribas BNY Mellon

CBW Bank (Citizens Bank Of Weir) Chiba Bank Chiba Kogyo Bank Chugoku Bank (Bank of China) CIBC (Canadian Imperial commercial banks) Citi Coast Capital Savings Commerzbank Commonwealth Bank Of Australia Credit Agricole Credit Suisse Cross River Bank Cuallix

Daishi Bank Daiwa Next Bank DBS Bank (Development Bank of Singapore) Deloitte Deutsche Börse

Ehime Bank

Federal Bank of India Federal Reserve System Fidor Bank Fukui Bank

Gunma Bank

Hachijuni Bank Hiroshima Bank HOKURIKU BANK HSBC (Hong Kong Shanghai Bank) HYAKUGO BANK

IndusInd Bank (Indus India Bank) Intesa Sanpaolo (Intesa Sanpaolo) Itau Unibanco Iyo Bank

Japan Post Bank JPMorgan Juroku Bank

Keiyo Bank Kotak Mahindra Bank Krungsri (Bank Of Ayudhya / Bank of Ayudhya) Kuwait Finance House

Macquarie Group Michinoku Bank Mitsubishi UFJ Trust And Banking Corporation Mizuho Financial Group Monetary Authority Of Singapore Morgan Stanley Musashino Bank

National Australia Bank National Bank Of Abu Dhabi (NBAD) National Bank Of Kuwait Natixis NISHI-NIPPON CITY BANK Nomura Trust And Banking Company Nordea Bank Norinchukin Bank North Pacific Bank NPCI (National Payments Corporation Of India)

Oita Bank ORIX Bank Oversea-Chinese Banking Corporation PKO BP

Rabobank Nederland RAKBANK (National Bank Of Ras Al-Khaimah PJSC) ReiseBank Reserve Bank Of India Resona Bank Royal Bank Of Canada Royal Bank Of Scotland

SAN-IN GODO BANK Santander Bank Saudi Arabian Monetary Authority (SAMA) SBI Sumishin Net Bank Scotiabank (Nova Scotia Bank) SEB Senshu Ikeda Bank Seven Bank Shanghai Huarui Bank (SHRB / Shanghai HanaMizuho Bank) Shiga Bank Shikoku Bank Shimizu Bank Shinhan Bank Shinkin Central Bank Shinsei Bank Shoko Chukin Bank Siam Commercial Bank Skandinaviska Enskilda Banken (SEB) Societe General Sony Bank Standard Chartered Bank Star One Credit Union Sumitomo Mitsui Banking Corporation Sumitomo Mitsui Trust Bank Suruga Bank Switzerland’s UBS

Tochigi Bank Toho Bank Tokyo Star Bank Toronto-Dominion Bank Towa Bank Tsukuba Bank

UBS United Overseas Bank UniCredit

Westpac Bank Woori Bank

Yachiyo Bank Yamagata Bank Yamaguchi Bank Yes Bank

Other institutes related to Financial Services

Accenture Ainslie Bullion AirWallex ALFAcashier American Express AstroPay Australian Stock Exchange and Depository Trust

Banquecorp Physical Gold BCS Information Systems BeeTech Bill & Melinda Gates Foundation BitcoinIRA BitGo Bluzelle

Cambridge Global Payments CGI Clearing Corporation [DTCC] Coil Crypto Facilities Currencies Direct

DAYLI Financial Group Deloitte Touche Tohmatsu DH Corporation Dinex DLocal

Earthport Everis Exchange4Free Expanse Expertus Technologies EZforex

FairFX FlashFX

Global ID Gold Bullion International GSR Markets

IBM IDT Corporation Infocomm Development Authority Of Singapore Infosys InstaReM IntellectEU International Foreign Exchange (IFX)

Jaccoo

LatiPay Lianlian Pay. Lulu Exchange

Marqeta Mastercard MIT (Massachusetts Institute of Technology) MoneyMatch Mercury FX MoneyGram

New Forest Capital

OANDA Omni

Paycase Financial Persistent Systems PolySign

R3 CEV RationalFX RIALTO.AI

Saldo.Mx SAP SBI Holdings SBI Remit SBI Ripple Asia SBI Virtual Currencies Singapore Exchange (SGX) Smart Token Chain Sparro SWIFT (Society for Worldwide Interbank Financial Telecommunication)

TAS Group Tata Consultancy Services (TCS) Telindus Temenos The PAR Foundation The Royal Mint TransferGo

UAE Exchange (UAE Exchange) Union FX UniPAY

Viamericas Corporation Volante Technologies

Western Union

Yantra Financial Technologies

Zip Remit

If you find a bank or financial institute not on this list please comment or message me directly so I can add to this list. At the time of writing this was the most comprehensive list available to the public

Mappo has been investing and trading in fiat currencies since 2013. He has recently moved into the crypto world spreading his portfolio over long term coin investments, ICOs and day trading.

#Cryptocurrency #ICO #exchange #bitcoin #Crypto #blockchain #Aelf #Mappo

Comprehensive List of Banks using Blockchain Technology was originally published in Hacker Noon on Medium, where people are continuing the conversation by highlighting and responding to this story.