• About Us
  • Careers
  • Contact
No Result
View All Result
Wednesday, September 17, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result

RBI Partners With Leading Banks for a Blockchain-Based Trade Financing Pilot Project

4 July 2022
in Latest News, News
Reading Time: 3 mins read
105 5
Home News Latest News

The Reserve Bank of India (i.e., RBI) has collaborated with leading financial institutions in India to run a blockchain-based pilot project focused on trade financing. The main goal of the project is to make blockchain technology a part of India’s core banking system

A report from the Economic Times (ET) reveals that the central bank’s innovation lab in Bangalore is in charge of the project. U.S. companies like IBM and Corba Technologies, as well as a Belgian company called SettleMint, are helping with the necessary technology.

Currently participating in the pilot are prestigious banks, including HDFC Bank, ICICI Bank, and State Bank of India (SBI). Additionally engaged are the Union Bank of India, Axis Bank, and Bank of Baroda. 

If it is successful, the “proof-of-concept” project will increase transparency and lower fraud in bank lending operations. It will do this by using blockchain technology to keep Letter of Credit (LC) records that cannot be altered. 

This collaboration will help to understand how blockchain technology can help and protect India’s financial system. The pilot project has started with banks running blockchain-backed systems to issue digital letters of credit. 

According to reports, the RBI Innovation Hub ran a workshop for employees of the participating banks to get them familiar with distributed ledger technology (DLT). 

Though a similar strategy will also be used, the project is acknowledged to be wholly independent of India’s central bank’s digital currency (CBDC) plans. It may also be a response to the LC crisis at the Punjab National Bank the year before. 

Adoption of Blockchain Technology in India

India has demonstrated that it is amenable to the underlying blockchain technology even while it opposes the widespread use of digital assets. India wants to get its blockchain-backed CBDC out into the world as soon as possible. 

RBI deputy governor T. Rabi Sankar says that the bank recently stated that the CBDC deployment is one of its top projects for the fiscal year 2022–2023. 

India is also working on additional blockchain-related projects with important local and international partners. It is working with the World Bank and the IMF on a soon-to-be-published consultation document on digital currencies. 

As part of a bilateral trade deal, India and the United Arab Emirates also agreed to work together on cutting-edge technologies like blockchain.

 

If you would like to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Previous Post

El Salvador Buys Extra 80 Units of Bitcoin at $19K

Next Post

Bitcoin and Other Cryptocurrencies are Going Through a ‘Historic’ Bear Season

Adedamola Ojedokun

Adedamola Ojedokun

Related Posts

source: theblock.co
Crypto

ARK Invest Adds $8.2M in Bullish Stock Despite Post-IPO Decline

17 September 2025
source: nbcnews.com
Crypto

Trump’s Fed Pick Revives “Third Mandate,” Sparking Dollar Concerns and Crypto Optimism

17 September 2025
Crypto

UK, US Push for Closer Crypto Ties Amid Calls for Innovation

17 September 2025
source:marketbeat.com
Bitcoin

GD Culture Shares Plunge 28% After $875M Bitcoin Asset Deal

17 September 2025

Editors Picks

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

Mining vs. Staking: Which Crypto Validation Method Will Shape the Future?

byOlajumoke Oyaleke
15 July 2025
0

Where Are the Ethereum-Killers Now?

Where Are the Ethereum-Killers Now?

byOlayinka Sodiqand1 others
6 January 2025
0

source: investorplace.com

How to Find the Newest Cryptocurrencies Before They’re Listed

byOlayinka Sodiq
30 December 2024
0

Exploring the Role of AI in Enhancing DeFi Security

Exploring the Role of AI in Enhancing DeFi Security

byOlayinka Sodiq
1 October 2024
0

The Ultimate Guide to How NFT Royalties Work

The Ultimate Guide to How NFT Royalties Work

byAdedamola Ojedokun
17 April 2024
0

Read More

Chain of Thoughts

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

Markets Update

From Rice Fields to Blockchain: Is Vietnam Becoming Asia’s New Crypto Hub?

4 days ago

Your Weekend Crypto Roundup | September 2025 (Week 2)

5 days ago

Why Are Crypto ATM Limits and Bans Surging Across the U.S?

6 days ago

Crypto Bug Bounties: How to Get Started

6 days ago

El Salvador’s Big Bitcoin Bet: Closing in on $1 Billion?

6 days ago

$312B Laundered: The Silent Truth Fiat Hides from Crypto’s Critics

6 days ago
Read More

Events

Korea Blockchain Week 2025
Korea Blockchain Week 2025
22 Sep 25
Seoul
Blockchain Life 2025
Blockchain Life 2025
28 Oct 25

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Bybit Q3 2025 Asset Allocation Report: Stablecoin Holdings Drop as Investors Pivot to SOL, XRP, and Altcoins

bychainwire
17 September 2025
0

Flipster Partners with WLFI to Advance Global Stablecoin Adoption Through USD1 Integration

bychainwire
17 September 2025
0

Ozak AI Partners with Pyth Network to Deliver Real-Time Market Data Across 100+ Blockchains

bychainwire
16 September 2025
0

Zircuit Launches $495K Grants Program to Accelerate Web3 Super Apps

bychainwire
16 September 2025
0

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M as Phase 6 Reaches 40%

bychainwire
16 September 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Market Analysis
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00