R3 Adds 13 Additional Banks to its Distributed Ledger Initiative

R3, a financial innovation firm, has announced that an additional 13 banks have joined its effort to design and apply distributed ledger technologies to international financial markets.
According to the press release:

This addition, which takes the total number of banks collaborating on the project to 22, includes Bank of America, Bank of New York Mellon, Mitsubishi UFJ Financial Group, Citi, Commerzbank, Deutsche Bank, HSBC, Morgan Stanley, National Australia Bank, Royal Bank of Canada, SEB, Societe Generale and Toronto-Dominion Bank.
These institutions will join Barclays, BBVA, Commonwealth Bank of Australia, Credit Suisse, Goldman Sachs, J.P. Morgan, Royal Bank of Scotland, State Street and UBS in developing commercial applications for this emerging technology in the global financial services industry. The project will also seek to establish consistent standards and protocols for the technology in order to facilitate broader adoption and gain a network effect.

Click here to read the full press release.