India’s ICICI, Axis and HDFC Bank Take Stakes in Blockchain Start-Up IBBIC: Report
27 Jul, 2021•1 min read•Blockchain
Three of India’s biggest private lenders, ICICI Bank, HDFC Bank and Axis Bank have taken stakes in the blockchain financial technology firm IBBIC, according to The Hindu.
HDFC Bank and Axis Bank each acquired 50,000 shares, a stake of about 5.55%, for 500,000 rupees ($6,700), The Hindu said, citing stock-exchange filings. ICICI Bank has 49,000 shares, or 5.44% of the company. The company paid 490,000 rupees ($6,600). Launched in May, IBBIC platform offers distributed ledger technology for the Indian financial services sector.