Deutsche Bank has joined a distributed ledger technology payments settlement system by JPMorgan.
In Brief:
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It is the first top tier European institution to join the system.
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330 banks in total have joined the network.
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IIN will help banks harness emerging technologies.
What does this mean?
IIN was launched in 2017 as a way to speed up cross-border payments, and help banks compete against FinTechs that provide solutions in the space.