Billon and FIS have signed a Letter of Intent to explore blockchain integration for the global financial markets.
UK fintech firm Billon has signed a letter of intent (LOI) with international financial services tech provider Fidelity National Information Services Inc. (FIS) to integrate blockchain tech solutions, according to a July 31 press release.
Billon refers to itself as a “civilized blockchain” company, meaning that it implements blockchain to ultimately process fiat currencies.
FIS, which specializes in banking software and payment processing, will work with Billon to assess the use of Billon’s “distributed architecture for document and identity management” for the FIS international fintech suite and “explore joint product development and sales opportunities for its portfolio of corporate blockchain solutions.”
According to the press release, Billon and FIS will also evaluate the potential to work together on corporate and SME payments, as well as micropayments for smartphones and other digital devices.
Earlier this spring, Billion had partnered with the largest credit bureau in Central Europe, the Polish Credit Office (BIK), in order to integrate blockchain tech for customer data storage.