Ping An becomes first Chinese member of R3 blockchain consortium

Ping An becomes first Chinese member of R3 blockchain consortium

Picture: REUTERS/Kacper Pempel

China’s second-biggest insurance company, Ping An Group, has become the first Chinese member of a global consortium led by fintech firm R3 that is working on ways blockchain technology can be used in financial markets, the companies said on Tuesday.

Ping An joins a group of more than 40 of the world’s biggest banks and other financial institutions, such as Barclays and Goldman Sachs, brought together last year by New York-based R3 to work together on using the technology that underpins digital currency bitcoin.

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