22 August 2017
visit www.avoka.com

R3 and Calypso to develop blockchain trade confirmation system

29 November 2016  |  11144 views  |  0 buy and sell button

Undeterred by the departure of some its top banking members, blockchain consortium R3 continues to press ahead with new initiatives, partnering with Calypso Technology to develop a multi-party trade confirmation system running on the Corda distributed ledger-based smart contract platform

Calypso will be the first application partner to adopt the R3 platform, utilising the technology to enable counterparties to see all trade tickets on the distributed ledger so they can be sure they are matching against the correct trade.

Pascal Xatart, CEO at Calypso says the new approach will be tested with multiple financial institutions and represents a new alignment between traditional vendors of capital markets technology and emerging developments in the blockchain space.

“We are thrilled to be working with R3 and honored to be their first application partner," says Xatart. "The alignment between the two firms is exceptional - our deep expertise in capital markets combined with their industry-leading distributed ledger technology will allow us to develop a range of innovative applications quickly and efficiently. Our current matching solution is only the beginning.”

The new provides some welcome relief for R3, following a week dominated by news of cracks in the consortium as some of its biggest founding members parted ways.

While the R3 inhouse blog has publicly stated that it doesn't want to "erase the news" (despite Finextra's own experience of previous form in this department) a recently published document on Paste Bin suggesting that JPMorgan, Macquaries and US Bancorp may be preparing to follow Goldman Sachs, Santander, Morgan Stanley and National Australia Bank down the exit chute has mysteriously disappeared. Idle chatter no doubt.

R3 is still canvassing members for participation in a blockbuster $150 million funding round. Reports suggest that the coalition has so far raised just over one-third of the total, at $56.5 million.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

R3 shakeout continues as Santander bows out

R3 shakeout continues as Santander bows out

22 November 2016  |  15391 views  |  0 comments | 20 tweets | 14 linkedin
Goldman Sachs leaves R3

Goldman Sachs leaves R3

21 November 2016  |  8605 views  |  0 comments | 9 tweets | 9 linkedin
Singapore and international banks to construct interbank blockchain network

Singapore and international banks to construct interbank blockchain network

16 November 2016  |  9048 views  |  0 comments | 13 tweets | 21 linkedin
Global banks and R3 test DLT for KYC services

Global banks and R3 test DLT for KYC services

10 November 2016  |  9318 views  |  0 comments | 22 tweets | 22 linkedin
Synchrony Financial joins R3

Synchrony Financial joins R3

24 October 2016  |  6000 views  |  0 comments | 5 tweets | 5 linkedin
R3 banks use Intel distributed ledger technology for bond trading

R3 banks use Intel distributed ledger technology for bond trading

26 September 2016  |  7847 views  |  1 comments | 16 tweets | 10 linkedin
R3 signs up BM&FBovespa as first exchange member

R3 signs up BM&FBovespa as first exchange member

06 September 2016  |  4752 views  |  0 comments | 5 tweets | 5 linkedin
R3 eyes insurance sector as MetLife comes onboard

R3 eyes insurance sector as MetLife comes onboard

31 August 2016  |  8221 views  |  0 comments | 16 tweets | 18 linkedin
R3 blockchain consortium sheds light on Concord project

R3 blockchain consortium sheds light on Concord project

24 August 2016  |  12206 views  |  0 comments | 17 tweets | 14 linkedin
Thomson Reuters joins R3 blockchain consortium

Thomson Reuters joins R3 blockchain consortium

02 August 2016  |  10306 views  |  0 comments | 15 tweets | 16 linkedin
R3 bids to develop master templates for smart contracts

R3 bids to develop master templates for smart contracts

13 July 2016  |  7050 views  |  0 comments | 8 tweets | 18 linkedin
Absa becomes first African member of R3

Absa becomes first African member of R3

12 July 2016  |  4092 views  |  0 comments | 8 tweets | 4 linkedin
Asian life insurer AIA joins R3 consortium

Asian life insurer AIA joins R3 consortium

02 June 2016  |  5123 views  |  0 comments | 1 tweets | 7 linkedin
R3 consortium gets first Chinese member

R3 consortium gets first Chinese member

24 May 2016  |  4777 views  |  0 comments | 8 tweets | 6 linkedin
Barclays to work with six accelerator startups; internal team demos R3 Corda

Barclays to work with six accelerator startups; internal team demos R3 Corda

19 April 2016  |  13904 views  |  0 comments | 21 tweets | 18 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.vasco.comvisit www.dorsum.eu

Who is commenting?

A Finextra member Finextra Member Commented on: Real-time payments in...
A Finextra member Finextra Member Commented on: Barclays uses sensors...

Top topics

Most viewed Most shared
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
11680 views comments | 26 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
10053 views comments | 22 tweets | 31 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
9736 views 0 | 5 tweets | 1 linkedin
Norwegian banks and startups form fintech clusterNorwegian banks and startups form fintech...
9451 views comments | 19 tweets | 23 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
9432 views comments | 10 tweets | 8 linkedin

Featured job

Find your next job