Blockchain software firm R3 is preparing to scale up Thailand operations after announcing it had renewed a partnership with Bangkok Bank. A new round of expansion will see the firm add to its workforce in the Kingdom as more Thai companies look to embrace blockchain.
“Thai enterprises are at the forefront of innovation, digital transformation and blockchain adoption and R3 is proud to support the nation’s digital industry transformation,” Amit Ghosh, Head of APAC at R3, said. “We’ve had a long-standing relationship with Bangkok Bank and collaborated with various large-scale blockchain projects, including Project Inthanon-Lionrock and Contour—as such, we are excited to continue our partnership with Bangkok Bank and to support their ongoing commitment to improving their service offering through the use of emerging technologies.”
As part of the agreement with R3, Bangkok Bank will have access to its flagship enterprise blockchain platform, Corda Enterprise. This technology will allow the financial powerhouse to streamline business operations across its trade finance, capital markets and supply chain businesses. It will also explore new solutions using R3.
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Ian Guy Gillard, Senior Executive Vice President at Bangkok Bank and R3 Board Advisor, noted that the company is seeing growing interest from corporate clients in deploying enterprise blockchain solutions tailored to industry-specific needs. This aligns with what R3 is also seeing in Thailand.
“As we see new opportunities and innovations coming from Thailand, and as we continue to work with some of the Thai ecosystem’s largest actors—we want to ensure that we have the appropriate resources in place to continue providing our partners with transformative tools to meaningfully improve their business,” Ghosh stated. “The partnership renewal with Bangkok Bank, together with our recent in-market hires, demonstrates R3’s commitment to support our current and future partners in Thailand.”
According to R3, more than 350 institutions are deploying, servicing and building on Corda. The enterprise blockchain platform allows businesses to digitalize various processes and systems to connect and transact with each other.
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