Fintech

R3 and FCA put regulatory reporting on the blockchain

'Unusual' partnership could boost the chances of the technology's adoption in the City of London

R3 and FCA put regulatory reporting on the blockchain

The blockchain developer R3 has joined forces with the UK's financial regulator in an "unusual" partnership that could boost the chances of the technology's adoption in the City of London.

R3 is working with the Financial Conduct Authority, Royal Bank of Scotland and another "major" global bank on a new tool for reporting mortgage transactions using a distributed ledger called Corda.

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