LAB577, a team of ex-Royal Bank of Scotland engineers, has built a system for settling crypto and fiat trades on R3's Corda Network.
London's Blockchain Summit heard banks weigh the possible savings blockchain could bring to global trade – as well as noting the pain points.
Stealth project Cordite, led by the Royal Bank of Scotland, promises the equivalent of an ERC-20 token standard for R3's open-source Corda platform.