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R3, an enterprise blockchain software firm, launched Corda Settler, an application that settles international payments within a corporate network – and it supports XRP. The open-source application comes as a part of a bigger CorDapp package. It allows participants to issue payment requests and settle them on the...
Post-trade market infrastructure giant DTCC has initiated the testing phase to re-platform its credit derivatives on distributed ledger technology (DLT) and cloud. The trial will include the participation of 15 of the world’s largest global banks, which will conduct structured user acceptance tests to validate the interaction between...
Dutch digital security company Gemalto has launched a distributed approach to Digital ID management in the form of the Trust ID Network service, developed in partnership with leading distributed database technology firm R3. Blockchain Identity Systems “Solves Profound Weaknesses of Traditional, Siloed Identity Frameworks” Identity systems are one...
In a press release earlier today it has emerged that Ripple has reached an agreement with R3 over a legal dispute that dates back to 2017. The two parties appear to be trying to leave the incident in the past but are keeping most of the details confidential....
Sources at Blockchain consortium R3 say despite claims of millions raised in funding the company is floundering and could be insolvent by next year, as reported by Fortune. R3’s Finances Laughable R3 which started off in a promising position in 2014 when it launched as an invitation-only consortium...
Ripple Labs Inc, a San Francisco-based blockchain developer famous for the XRP token, lost a home-court battle with rival R3 Holdco over ownership of its cryptocurrency, XRP. With San Francisco’s state appeals court denying Ripple’s request, it should be the New York deciding the fate of the dispute against...
Yesterday, Credit Suisse and ING Group completed a 25 million euro ($30.48 million) securities lending transaction using blockchain-based software. The transaction involved the banks swapping baskets of securities through an application from fintech company HQLAx, which was built with a blockchain created by bank consortium R3. The trade...
The legal spat between R3 and Ripple is not over just yet. Even though the case is thrown out in Delaware, several cases are still in place. For now, the focus will shift to San Francisco. Ripple countersued R3 in this city last month. There is also another...
Things are going from bad to worse for the R3 consortium. Ever since it became clear the group is not focusing on blockchain technology, there has been a lot of backlash. JPMorgan Chase & Co has now decided to leave the group and focus on other things. It...
Financial institutions across the world are lining up to implement Bitcoin’s underlying technology into their operations. The use of blockchain technology in the traditional financial system, mainly driven by the banks’ need to evolve while facing competition from cryptocurrencies still doesn’t solve the issues of centralization itself. It...
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