Home Blockchain ICICI, Axis and HDFC Bank pick up stake in blockchain start-up

ICICI, Axis and HDFC Bank pick up stake in blockchain start-up

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Non-public sector lenders together with HDFC Financial institution, ICICI Financial institution and Axis Financial institution have picked up a stake in blockchain know-how focussed start-up IBBIC Pvt Ltd.

In separate inventory alternate filings on Tuesday, HDFC Financial institution and Axis Financial institution mentioned they’ve picked up 50,000 fairness shares amounting to five.55 per cent stake in IBBIC.

HDFC Financial institution and Axis Financial institution invested ₹5 lakh every for the shares.

ICICI Financial institution additionally mentioned it has subscribed to 49,000 totally paid-up fairness shares of face worth ₹10 every of IBBIC constituting 5.44 per cent of the issued and paid-up share capital. It paid ₹4.9 lakh for the shares.

IBBIC was integrated on Might 25 this 12 months as a monetary know-how firm with the target of offering a platform for exploring, constructing, and implementing distributed ledger know-how (DLT) options for the Indian monetary providers sector.

About 15 banks have come collectively to arrange IBBIC, with an intention to develop the usage of blockchain software in monetary sector transactions.


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