Share this article
ING Bank, R3 Ink Deal for 'Unlimited' Corda Blockchain Deployment
Dutch banking group ING has inked a five-year licensing deal with blockchain consortium startup R3 to use its Corda Enterprise platform.
Updated Sep 13, 2021, 8:49 a.m. Published Jan 22, 2019, 1:35 p.m.
Dutch banking and financial services group ING has inked a five-year licensing deal with blockchain consortium startup R3 for use of its Corda Enterprise platform.
R3 announced Tuesday that the deal will provide ING with an “unlimited” number of licenses for the Corda platform, allowing the bank to deploy its blockchain tech and “production-ready" CorDapps (or Corda Distributed Applications) across its international business operations.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
CorDapps cover various financial services activities, including trade finance, identity, insurance and capital markets, according to the announcement.
R3 CEO David Rutter said:
“As ING takes full advantage of access to Corda Enterprise, we look forward to seeing how the diverse CorDapp ecosystem can deliver gains in productivity, efficiency and profitability across the bank’s diverse business areas."
The licencing agreement marks a "huge milestone" towards transitioning the bank's clients to a distributed economy, said Annerie Vreugdenhil, head of innovation for wholesale banking at ING. "We are one step closer to deploying live DLT solutions for our clients with the supported infrastructure in place."
This is not the first time ING has partnered with R3. Last month, the bank, along with three other European banks – Commerzbank, Natixis and Rabobank – settled a live transaction for a one-day maturity euro commercial paper worth €100,000 (or $1,13,432) on the Corda platform.
Back in February, ING also successfully completed a proof-of-concept project for trade finance using R3’s blockchain tech, along with BNP and Commerzbank.
R3 launched its Corda Enterprise platform in July of last year, after more than a year in development. Corda is an open-source blockchain platform offering added features including 24/7 support, disaster recovery, blockchain application firewall, and more.
ING image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
Top Stories
