JP Morgan and Visa have announced they will be connecting their existing private blockchain networks.
In Brief:
The networks are JP Morgan’s Liink and Visa’s B2B Connect.
Liink’s Confirm tool which validates accounts for cross-border payments can now be used by B2B Connect.
Confirm will enable institutions to validate account information so payments are softer and more efficient.
What does this mean?
JP Morgan is looking to grow Confirm through key global partners, already working with Deutsche Bank in EMEA. It says linking the service to Visa’s blockchain platform will accelerate adoption – and it also solves problems of confirming details for payments sent via blockchain.
