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Chilean regulator SBIF joins R3 network

First Published 28th September 2017

David Rutter, R3

David Rutter, R3

New York, London, Singapore, Santiago - The Superintendency of Banks and Financial Institutions of Chile (Superintendencia de Bancos e Instituciones Financieras or SBIF) recently joined R3, as a regulatory member, which will allow it to stay up-to-date on the latest advances and implementations of Distributed Ledger Technology in financial services.

The SBIF, the Chilean banking regulator which oversees the country's banking sector, is the latest Latin American member to join R3's community. Members work closely with R3 to continue the development of Corda, an open source distributed ledger platform for recording, managing and synchronising financial agreements.

David Rutter, CEO of R3, comments: "We are pleased to welcome the SBIF on board as we continue to grow our global regulatory community. Close collaboration between regulators and the institutions they regulate is essential to developing a futureproof DLT platform that is born of real-world experimentation and use of the technology in question."