The Italian Banking Association (ABI) is now testing a blockchain interbank solution based on blockchain consortium R3’s open-source distributed ledger platform Corda, fintech news outlet FinExtra reports on Wednesday, Feb. 13.
The ABI states that the platform has been developed together with its technical partners — R3, Japanese IT firm NTT Data and Italian ICT company Sia. The project, dubbed “Spunta,” is reportedly now being tested by 18 banks that represent 78 percent of the Italian banking sector by number of employees.