CULedger, a blockchain consortium and credit union service organization (CUSO), has joined enterprise software firm R3’s global blockchain ecosystem. The partnership was officially revealed in a press release published Dec. 13. Based in Denver, Colorado, CULedger reportedly delivers blockchain applications to credit unions and their members, using the technology to improve cybersecurity and to mitigate fraud risks, as well as streamline administrative and operational processes to save time and costs. The firm also provides a specific blockchain-based identification solution for credit union members. As the press release notes, the consortium joins the R3 global network, which has, to date, reportedly …

A group of international banks in partnership with enterprise blockchain software firm R3 have completed a live commercial paper transaction based on blockchain platform Corda, Finextra reported Dec. 6. The transaction was implemented on the Corda-based Euro Debt Solution application developed by R3, with German banking and financial services company Commerzbank, French corporate and investment bank Natixis, and Dutch financial services firm Rabobank as the participant. In the course of transaction, Natixis reportedly issued 100,000 euro ($113,722) notional, while Rabobank acted as the incestor and ING as both dealer and escrow agent. Commerzbank developed the pilot framework, software and distributed …

Japanese financial services company SBI Holdings will partner with software firm R3 to expand local use of its Corda blockchain platform, Cointelegraph Japan reported Dec. 5. Quoting local news outlet Nikkei, the report reveals that SBI, which is involved in multiple cryptocurrency and blockchain-related activities, will expand on its existing investment in R3 to create a “joint venture” aimed at promotion. “Europe is the most advanced in blockchain product development,” R3 CEO David Rutter told Nikkei in an interview: “The new joint venture will strengthen the Japanese language service, and promote adoption.” The company added its R3 partnership would extend …

Enterprise blockchain software firm R3 has announced that ‘rival’ Ripple’s XRP token will be the first crypto supported on its new universal payment settlement platform, Finextra reports today, Dec. 5. Dubbed “Corda Settler,” the new open source Corda-based decentralized application (CorDapp) reportedly allows payment obligations raised on the Corda blockchain to be settled via any parallel payment rail that supports cryptocurrencies or assets, or any ‘traditional’ payment rail that can provide “cryptographic proof of settlement.” A payment rail is a term for a payment platform or network that transfers money from one entity (a payer) to another (a payee). After …

Brazil’s largest private bank has partnered with United Kingdom bank Standard Chartered to create a blockchain-based platform for small loans, according to a press release published by Itau Tuesday, Dec. 4. Itau Unibanco, also a major Latin American banking group, and Standard Chartered both offer international banking services. The two entities have successfully conducted a proof-of-concept (PoC) for the mentioned platform, based on Corda Connect developed by New York-based blockchain startup R3. Moreover, Itau and Standard Chartered, joined by United States multinational financial services company Wells Fargo, have issued a club loan of $100 million to test the platform. According …

American trading-communications firm IPC Systems has partnered with enterprise blockchain software consortium R3, according to a press release shared with Cointelegraph Dec. 3. IPC is a trading technology service company known for producing trading turrets, which are communications systems used by financial traders on their trading desks. Through the Partnership, IPC plans to support the consortium’s Corda blockchain networks on its Connexus platform. Connexus Cloud is a financial markets cloud-based platform for data, voice, and business communications and compliance. The product includes financial industry firms, liquidity revenues, energy firms, and market data and clearing companies. The Corda blockchain network uses …

SBI Ripple Asia and the Japan Payment Card Consortium have announced a joint proof of concept (PoC) to combat fraud with blockchain technology, according to an official release published Nov. 16. According to the news release, the PoC will be conducted on R3's blockchain platform, Corda, and will aim to prevent damage wrought by fraudulent transactions by enabling the real-time sharing of data between parties using blockchain. The Japan Payment Card Consortium counts nine major credit card issuers – including American Express (Amex), Credit Saison and Toyota Finance – and two payment-card technology providers as members. SBI Ripple Asia is …

Singapore’s state investment firm Temasek Holdings Pte has invested in enterprise blockchain software firm and global banking consortium R3, according to a Bloomberg report Nov. 22. Temasek is a Singapore government-owned investment company, which has reported its Asia-focused portfolio to be worth around S$308 billion ($235 billion) as of spring 2018. Bloomberg today cites an “internal memo,” whose contents have reportedly been confirmed by a Temasek spokesperson, which illuminates the company’s broad investment strategy as of October 2018. It indicates that Temasek is responding to a shifting global investment landscape by focusing in on bleeding-edge technologies such as blockchain and …

Global post-trade market infrastructure giant The Depository Trust & Clearing Corporation (DTCC) is entering the testing phase of its replatformed Trade Information Warehouse (TIW) based on distributed ledger technology (DLT), according to a press release published Nov. 6. DTCC’s warehouse provides event processing services for around 98 percent of all credit derivatives transactions in the global marketplace. The infrastructure provider is now reportedly working with fifteen of the world’s leading banks to test its new DLT-based restructuring of the warehouse. While participant banks in DTCC’s 2016 proof-of-concept (PoC) included Bank of America, Citi, Credit Suisse, and JPMorgan, today’s release only …

Global management consultancy firm Accenture revealed a new blockchain tool in a press release Oct. 22, its second in a month focusing on interoperability. A week after announcing a supply chain partnership with Thailand’s Siam Commercial Bank, Accenture said its latest offering facilitated existing enterprise blockchain systems to integrate with one another. Specifically, blockchain platform Digital Asset can now work in tandem with R3’s Corda platform, while Hyperledger Fabric and JPMorgan’s Quorum form another interoperable pair. Discussing the two separate solutions, which the company has already tested, managing director and Global Blockchain Lead David Treat described them as a “game …

U.K.-based bank Natwest will integrate a new blockchain platform based on R3 Corda technology for use in the syndicated loans market, financial news platform Mondovisione reports today, October 18. The new platform, dubbed “Fusion LenderComm,” was developed by blockchain consortium R3 and fintech enterprise Finastra, and aims to streamline the global market for syndicated loans — loans whose size or degree of risk means that more than one lender underwrites them, as part of a “syndicate” of two or more financial institutions. Natwest’s move comes roughly a year after a pilot of the platform was undertaken with participation from several …

Global management consultancy firm Accenture announced it had partnered with a subsidiary of Thailand’s oldest bank on a new blockchain tool aimed at supply chains in a press release Wednesday, Oct. 17. In the latest implementation of the technology for Accenture, the company partnered with Siam Commercial Bank’s fintech subsidiary Digital Ventures Co. Ltd on the blockchain solution, which has already gone live with its first clients. Known as Procure-to-Pay or B2P, it leverages R3’s Corda technology as its basis, the release confirms. Divyesh Vithlani, head of Accenture’s Financial Services practice in the ASEAN region commented: “The most exciting part …