Instimatch Global Is Testing R3’s Corda Settler Platform Using Ripple’s XRP

R3, the distributed ledger technology company for enterprise blockchain solutions, is partnering with Instimatch Global, an intraday/money market solution that enables institutional borrowers and lenders to make trading connections via the instimatch digital network.

Instimatch Global Testing R3’s Corda Settler

Instimatch’s partnership with R3 involves the testing of R3’s Corda Settler platform to offer high-speed payments necessary for the execution of intraday trades. They will be testing the Corda Settler platform and its ability to settle high volume transactions of over $1 billion USD with XRP in a pilot with 50 banks.

The Corda Settler is an open-source decentralized application (dapp) that runs on the Corda blockchain and is designed to enable large corporations and companies to move crypto and traditional assets via distributed ledger technology.

The platform’s first crypto payment rail is Ripple’s XRP, which is still in its first stages of development.

Using the Corda Settler dapp, Instimatch is able to couple the latest settlement API (R3 Settler/XRP) to offer high-speed payments necessary for the execution of intraday trades.

A good description of Instimatch’s inter-bank trading in intraday markets solution is found on the R3 marketplace website, where it states:

Our money market offering in R3 Corda is a highly secure, GDPR compliant DApp allowing Banks, Family offices, Corporations, Utilities etc. to exchange liquidity amongst each other. This DApp offers the modern alternative to voice broking and replaces our present, centralized database version.

To get a better understanding of what Instimatch Global is, check out their explainer video below.

Do you think Instimatch Global will decide to adopt R3’s Corda Settler technology and use XRP for global payments? Let us know what you think in the comment section below.

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