Financial Industry News
Brian McNulty, a former R3 managing director who left the company in January, has emerged from the bushes with a blockchain project to streamline the fund management industry. Revealed exclusively to CoinDesk, FundAdminChain (FAC), which is helmed by McNulty, also boasts R3 CEO David Rutter as an advisor, as well as buy-side veterans Peter Townsend […]
Continue ReadingPublic blockchain tokens will soon be trading on a major securities exchange. Revealed exclusively to CoinDesk, Swiss security token firm BlockState plans to “passport” half a dozen ERC-20 tokens from ethereum, the second-largest public blockchain, to Corda, the private distributed ledger technology (DLT) platform developed by R3. Before the end of the year, the tokens will be […]
Continue ReadingFintech firm Token has received a $16.5 million injection from investors including the venture arm of banking giant BNP Paribas, a news release announced on June 18. The self-described open banking platform says it will use the capital to further develop its TokenOSTM operating system — and “accelerate new ways of innovating payments with digital money and ID […]
Continue ReadingA historic change in strategy is taking place at R3 and Digital Asset (DA), who are now collaborating to maximize their respective blockchain ecosystems. Announced Tuesday, DA will be bringing its smart contract language DAML (Digital Asset Modelling Language) to R3’s Corda platform, as well as Hyperledger Fabric, following on from its Hyperledger Sawtooth tie-up […]
Continue ReadingBlockchain software consortium R3 revealed that it is developing a blockchain platform in Brazil with banks Bradesco, Itau and B3, Cointelegraph Brazil reported on June 12. The R3 Consortium — which is composed of large banks and technology companies — announced during the CIAB Febraban event in São Paulo that it is currently collaborating with […]
Continue ReadingCULedger, a blockchain consortium and credit union service organization (CUSO), has chosen enterprise software firm R3’s Corda blockchain to underpin its forthcoming cross-border payments product. The news was reported by fintech news outlet Finextra on May 21. As reported, CULedger joined the R3 global blockchain ecosystem in December 2018. The blockchain CUSO implements the technology […]
Continue ReadingBritish financial software firm Finastra has signed three global banks on its R3 Corda blockchain-based syndicated loans platform, the firm officially announced on May 14. France-based banking institutions BNP Paribas, Natixis, and Societe Generale have officially joined Finastra’s syndicated lending platform Fusion LenderComm, following previous pilots back in 2017. Based on blockchain consortium R3’s open […]
Continue ReadingBy CCN: “Corda is more like Bitcoin,” says Mike Hearn, lead engineer for Corda, the open source blockchain of the industry consortium R3. “It owes more of its intellectual history to bitcoin than Ethereum in a way. Its’ data model is similar to Bitcoin, which enables you to have privacy because you don’t see transactions […]
Continue ReadingOver 50 banks participated in the simulation of letter of credit transactions on R3’s blockchain platform in 27 countries on six continents. The company announced the development in a press release published on May 8. Per the release, 96% of the participants said that the system — dubbed Voltron — will accelerate and reduce the […]
Continue ReadingABN Amro, Standard Chartered, ING and around 50 other banks and companies have participated in tests of a trade finance application called Voltron. The open industry platform was initiated by eight founding member banks with the aim of improving the trade finance process by simplifying letter of credit transactions to deliver speedy settlement times and […]
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