# Ethereum Partners with R3CEV on Lizardcoin, Bringing Together the Best of Centralized Finance and Blockchain Technology

DevFeed: [Ethereum Partners with R3CEV on Lizardcoin, Bringing Together the Best of Centralized Finance and Blockchain Technology](<https://devfeed.tech/articles/ethereum-partners-with-r3cev-on-lizardcoin-bringing-together-the-best-of-centralized-finance-and-blockchain-technology-16754.md>)

Original publisher: [Read original article](<https://blog.ethereum.org/en/2016/04/01/ethereum-partners-with-r3cev-on-lizardcoin-bringing-together-the-best-of-centralized-finance-and-blockchain-technology>)

Author: Vitalik Buterin

Published: 2016-04-01T08:43:10Z

Content type: opinion

Language: en

Sources: [Ethereum Foundation Blog](<https://devfeed.tech/sources/ethereum-foundation-blog.md>)

Topics: [blockchain technology](<https://devfeed.tech/topics/blockchain-technology.md>), [Ethereum](<https://devfeed.tech/topics/ethereum.md>), [Cryptocurrency](<https://devfeed.tech/topics/cryptocurrency.md>), [Bitcoin](<https://devfeed.tech/topics/bitcoin.md>), [Finance](<https://devfeed.tech/topics/finance.md>)

Tags: [banking](<https://devfeed.tech/tags/banking.md>), [bitcoin](<https://devfeed.tech/tags/bitcoin.md>), [blockchain-technology](<https://devfeed.tech/tags/blockchain-technology.md>), [cryptocurrency](<https://devfeed.tech/tags/cryptocurrency.md>), [ethereum](<https://devfeed.tech/tags/ethereum.md>), [finance](<https://devfeed.tech/tags/finance.md>), [ibm](<https://devfeed.tech/tags/ibm.md>), [research-development](<https://devfeed.tech/tags/research-development.md>), [technology](<https://devfeed.tech/tags/technology.md>)

## AI overview

The article describes an announced collaboration between the Ethereum Foundation and banking consortium R3CEV to create Lizardcoin, a blockchain-based cryptocurrency intended to combine centralized financial controls with blockchain technology. It outlines a capped and reducing supply, account holding fees, and multi-bank KYC requirements, while comparing the project with Bitcoin.

## Source excerpt

The Ethereum Foundation has announced that it will be working with the New York-based banking consortium R3CEV on creating a new blockchain-based cryptocurrency, Lizardcoin, which aims to showcase the benefits of blockchain technology as well as the consortium's ability to bring the technology to institutional clients and the regulation-loving masses...