The Saudi British Bank (SABB) has joined the R3, a global blockchain software consortium. SABB is the first bank in the Kingdom of Saudi Arabia to join this initiative, as it is a leader in providing value-added digital solutions to its customers, and this is another step in that direction.

On this occasion, Mr. David Dew, Managing Director of SABB, stated: “We are very pleased to join R3, which places SABB at the forefront of global financial innovation, providing our customers with high-level benefits in terms of transaction speed and security based on DLT solutions.”

For his part, Mr. David E. Rotter, CEO of R3, said: “As one of the Kingdom’s leading international banks, SABB’s加入 to the consortium—with its extensive expertise—is invaluable to R3. By using the Corda platform, SABB will be able to actively participate and work on developing blockchain-based solutions to meet the growing needs of its customers.”