ING Bank gets unlimited access to R3’s Corda
ING Bank has signed a five-year deal with R3, entitling the bank to an unlimited number of licences for R3’s commercial blockchain platform, Corda Enterprise.
The Corda platform keeps getting more and more traction
The deal will allow ING to roll out access to Corda globally and deploy production-ready CorDapps, which cover a range of financial services activity including trade finance, identity, insurance and capital markets.
“ING has been an enthusiastic adopter of blockchain technology and a valued long-term partner to R3,” says David E. Rutter, CEO of R3. “For example, in trade finance, it was involved in the first live trade on Project Voltron. It was also one of the participants in the first live securities lending transaction on blockchain through HQLAx.”
Corda Enterprise is a commercial distribution of Corda, offering features targeted at the needs of large organisations, such a blockchain application firewall and support for industry-standard enterprise databases.
Last week, R3 launched Corda Network, an underlying, open shared blockchain network linking participants using Corda.
The network will be operated and managed by a new independent not-for-profit organisation, the Corda Network Foundation.
