SBI Partners With Hitachi to Build Digital Payments Platform in India17.37

Hitachi Payment Services, the Indian-based subsidiary of Hitachi, has entered a joint venture with State Bank of India for the establishment of a digital payments platform, pending regulatory approval. The announcement comes at a time when the Supreme Court asked the Indian government to state its policy towards cryptocurrency within two weeks.

The Indian government-owned bank is one of the founding members of the consortium called BankChain, together with IBM, Microsoft, Skylark, KPMG, Deutsche Bank, and others. In November 2017, SBI partnered with Primechain Technologies to develop an enterprise solution for self-managing KYC protocols using distributed ledger technology.

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