September 15, 2019 Deutsche Bank has joined the blockchain-based Interbank Information Network.

Headed by JP Morgan Chase, the network is comprised of over 60 banks and uses blockchain technology to manage and share information regarding international payments amongst members. JP Morgan executives hope Deutsche Bank will the first of many large banks to join the network, whose existing members are mainly smaller banks and clients of JP Morgan. The move comes as Deutsche Bank undergoes restructuring and shifts its focus to transaction banking and cash management.