Complex sentence: The consortium was officially launched on October 25,2016 with 42 member banks; as of July 2017,61 Japanese banks had joined representing over 80% of total banking assets in Japan.
Split into simpler sentences: The consortium was officially launched on October 25,2016 with 42 member banks. As of July 2017,61 Japanese banks had joined, representing over 80% of total banking assets in Japan.