Canadian credit union coalition joins R3

Source: R3

The Large Credit Union Coalition (LCUC), a group comprising the CIOs of the 16 largest credit unions in Canada, has joined enterprise software firm R3’s global blockchain ecosystem.

Representing over $125B in assets, LCUC fosters innovation and technology to the benefit of the whole Canadian credit union system. It will join R3’s network of over 200 financial institutions, regulators, trade associations, professional services firms and technology companies to develop on Corda, R3’s blockchain platform designed specifically for businesses.

Corda is the world’s only blockchain platform designed from the ground up for businesses operating in complex and highly-regulated markets. It offers access to a vibrant network of interoperable blockchain applications for finance and commerce.
David E. Rutter, CEO of R3, comments: “Canada is a hub for blockchain innovation and remains a key market for R3. We are pleased to welcome LCUC on board and look forward to working with its group of CIOs to enrich the services offered to their members with Corda’s unique enterprise-focused blockchain technology.”

Yves Auger, CIO at Servus Credit Union, comments: “The LCUC is thrilled to be working with R3 and exploring the distributed ledger technology space more closely, building on some of our members’ successes with the technology. The wealth of knowledge and possible use cases we can dive into in short order were among some of the key reasons we felt partnering with R3 was the right choice for us.”

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