Share this article
R3 Unveils Cross-Border Payments Platform Built on Corda DLT Tech
R3 and 22 of its member banks have announced a cross-border payments platform built on top of the company's Corda distributed ledger.
By Brady Dale
Updated Sep 13, 2021, 7:06 a.m. Published Oct 31, 2017, 9:00 a.m.
Make us preferred on Google
Distributed ledger consortium R3 and 22 of its member banks have announced a cross-border payments platform built on top of the company's Corda technology.
Centered around the concept of creating digitized versions of fiat currencies that can be exchanged and transferred between different parties, the effort has seen involvement from banks including Barclays, BBVA, CIBC and Commerzbank.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The unveiling comes just a month after the startup announced version 1.0 of Corda, with a prototype version of the cross-border payments platform expected to be released by the end of this year.
R3 CEO David Rutter said of the project:
"This solution will be a game-changer for any bank or company whose business relies on making or receiving cross-order payments, and is a key part of R3's wider strategy to leverage distributed ledger technology for faster and more efficient execution of all types of financial transaction."
Also involved in the new platform are DNB, HSBC, Intesa, KBC, KB Kookmin Bank, KEB Hana Bank, Natixis, Shinhan Bank, TD Bank, U.S. Bank and Woori Bank, R3 said in a statement.
Other projects built around R3's core tech offering have been unveiled in recent days, including a trade finance-focused partnership involving U.K.-based Bolero.
Antique map image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
Bitcoin climbs above $89,000 as U.S. dollar tumbles on President Trump's remarks
The president said he isn't concerned about the dollar's recent declines, sending the greenback plunging even lower.
What to know:
- Bitcoin rallied above $89,000 as remarks by President Trump sent the dollar to its lowest level in nearly four years.
- Gold rose to a new record above $5,200 per ounce following the president's comments.
- One analyst is seeing a bullish technical divergence which could send bitcoin back to $95,000 in short order.
Top Stories
