R3 to unveil real-time payments prototype
The aim is to improve the speed and efficiency of global transactions
Software firm R3 plans to release a real-time international payments prototype by the end of this year, which will handle the full transaction workflow on a shared infrastructure. It aims to bring efficiency and cost benefits for conducting cross-border payments.
The solution was built with the co-operation of 22 of R3’s member banks and will be hosted on Corda, the firm’s digital ledger technology platform, through which banks can transact smart contracts directly in a secure environment.
“In
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe
You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.
You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@fx-markets.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@fx-markets.com
More on Payments
IBM: interbank currency blockchains should address emerging markets
Banks and fintechs, including USC consortium, vie to build distributed networks for FX transactions
Swift announces trials with ECB instant payment system
Linking ‘Swift gpi’ to ECB’s Tips will greatly reduce settlement delays, consortium says
Philippines joins regional payment settlement network
Malaysia, Indonesia and Thailand already in system that aims to spur local FX markets
Beyond payments: central bank digital currencies
Issuance of central bank digital currencies could facilitate monetary policy beyond ZLB
Caxton FX to provide open banking payments
Customers will be able to make international payments directly from its platform
Renminbi payments hold steady in June – Swift
China’s currency keeps its fifth most-used currency spot for global payments, according to Swift
Renminbi’s share of global payments slides in February
It falls two places to become the seventh most-used currency for global payments, according to Swift
Renminbi payments drop in December
The Chinese currency is once again the fifth most-used for global payments – Swift
