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R3 acquires stablecoin issuance platform Invo

R3 acquires stablecoin issuance platform Invo

Enterprise blockchain outfit R3 has acquired the technology and team of financial asset tokenization specialist Ivno, expanding its capabilities in the digital assets and currency space.

Designed for regulated financial services firms, Invo's platform enables users to rapidly tokenise and transfer assets such as gold, cash, collateral and artwork.

Integrating Ivno’s capabilities will empower R3's Corda customers to optimise balance sheet management through tokenisation of underlying assets. It will also enhance the capabilities of the R3 Sandbox for Digital Currencies, allowing customers to experiment with tokenization of digital assets and explore various emerging stablecoin models before moving to the production-ready solution.

Todd McDonald, chief product officer of R3, says: “Digital cash and tokenized liquid assets represent one of the biggest innovations in financial markets. The underlying technology provides an opportunity to significantly optimise the cost and speed of financial transactions. The acquisition of Ivno’s high-quality software built on Corda significantly accelerates R3’s ability to offer enterprise-grade and regulatory-friendly stablecoin issuance capabilities to our customers. As the first step, Ivno’s capabilities will be integrated with the R3 Sandbox for Digital Currencies.”

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