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Cryptocurrencies

Mauritius taps into blockchain for financial inclusion

Friday 13 October 2017 | 02:11 PM CET

The State Bank of Mauritius (SBM Group) and SALT have entered into an exploratory relationship to use blockchain for lending services.

Secured Automated Lending Technology (SALT) will provide risk mitigation software to allow financial entities, like SBM, to participate in this new market.

Mauritius is looking to become a destination for blockchain start-ups with its sandbox licensing scheme; for this reason, the collaboration is expected to build such an ecosystem on the island nation.

SBM Group is a banking and financial service institution listed on the Stock Exchange of Mauritius with a market capitalisation of MUR 23.3 billion (USD 685.7 million). The group offers retail and business solutions, treasury services, international banking facilities, an e-business platform, trade finance, wealth management and investment banking activities. It is present in Mauritius, Madagascar, India and Kenya.

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