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Toyota Financial Services, the financing, leasing and insurance brand for the Toyota car company in the US, managing assets totaling over $115 billion, has become the first automotive financial services provider to join the R3 consortium. Representing over fifty of the biggest banks and corporations in the world, the collaboration tests how to incorporate blockchain solutions in the global financial markets.
“Toyota Financial Services is excited to join the R3CEV consortium to advance the use of distributed ledger technology in finance. We believe this technology will ultimately lower costs, increase efficiency and make auto finance more transparent for our customers,” said Chris Ballinger, ... (read more)