Blockchain 

Mastercard Partners With Blockchain Firm R3 for Payments Solution

Mastercard partnered with blockchain firm R3 to develop a cross-border payment solution. According to a Mastercard press release published on Sept. 1, the two firms plan to pilot a new blockchain-enabled cross-border payment solution. The system will reportedly focus on connecting global faster payments infrastructures, schemes and banks. Multiple ways to move money Per the release, the announcement is part of Mastercard’s plans to strengthen its cross border payments network, building on its acquisition of global payments company Transfast earlier this year.  The partnership with R3 is part of the…

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Blockchain 

Fintech Firm Partners With R3 to Develop Shariah-Compliant Market Platform

Dubai-based fintech company Wethaq has entered into a strategic partnership with enterprise software firm R3, in order to create a platform for issuing and trading sukuk securities based on R3’s Corda offering.  A platform for Islamic securities According to a press release on Aug. 28, Wethaq’s platform is built on R3’s open source enterprise blockchain platform Corda, and the company has been taking steps to ensure that it is likewise compliant with Sharia Law. Wethaq’s platform is reportedly designed to improve the market infrastructure for issuing and trading sukuk securities.…

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Blockchain 

India’s Kerala Blockchain Academy Partners with R3 for Dev Education

The Kerala Blockchain Academy (KBA), a government initiative under the Indian Institute of Information Technology and Management, is now a general partner of R3. Local news outlet The Economic Times reported on Aug. 27 that New York-based enterprise blockchain firm R3 chose the KBA as a general partner. According to the article’s author, the academy already designed a developer certification program on the firm’s Corda blockchain, meant for banking and technology professionals. Governmental blockchain education Per the report, KBA is the first government institution in India which offers a Corda…

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Blockchain 

R3 Plagued by Internal Conflicts Over Corda, Sources Claim

The development of R3’s enterprise blockchain platform Corda is being plagued by fundamental disagreements over its core vision, causing frustration and delay. The claim was made in a report from FT Alphaville on Aug. 22, citing numerous insider sources. “Corda maximalists” versus interoperability proponents Sources close to R3 reportedly allege that there is a gulf between Corda’s engineers and its senior management as regards the product’s design and development. The engineers have purportedly lost faith in the technology itself, considering it to be functioning poorly and underscoring that it lacks…

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Blockchain 

R3 Announces Planned Dublin Office Amid Aggressive Expansion

Enterprise blockchain developer R3 announced on Aug. 14 that it intends to open a second European office in Dublin in 2020. This comes just weeks after doubling the size of its London hub as part of an aggressive expansion plan. Hiring to expand global headcount by 25% The new office will serve as a tech hub, staffed largely with engineering specialists working closely with the existing London team. R3 has embarked on a hiring mission, which aims to increase its global headcount by around one quarter. As well as the…

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Blockchain 

R3 Doubles London Office Size in Anticipation of Growing Branch

New York-based enterprise software firm R3, known for its enterprise blockchain platform Corda, has doubled the size of its London Wall office. Business intelligence firm Mondo Visione reported on the company’s new hiring goals on Aug. 1. According to the report, R3 has increased the size of its London branch as partial accommodation for the company’s intended 85 global hires by the end of 2019. Out of the 85, over half are intended to be installed in the company’s London office. R3 is reportedly primarily recruiting software engineers, but will…

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Ethereum 

KPGM to Work With Microsoft, Tomia and R3 on Blockchain Telecom Solutions

Business advisory firm KPGM has partnered with tech companies Tomia, Microsoft and R3 to create a blockchain-based settlements solution for the telecom industry, in anticipation of 5G network services. KPMG announced the partnership and product plans in an official blog post on July 16. As per the report, the planned blockchain solution intends to make use of smart contracts in order to reduce disputes between carriers and mobile operators. Such smart contracts would reportedly include critical information for this purpose, by providing details such as correct rates, destination and bilateral…

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Blockchain 

R3 to Support a Startup-Focused Stock Exchange in Brazil

Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms. Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with “social impact,” Cointelegraph Brazil reports July 16. The new R3 technology-backed platform, provisionally named BVM12, will purportedly open a new funding source for technology startups, as well as enable individual investors to generate dividends from investments in new technologies, the report notes. Rio de Janeiro-based Banco…

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Blockchain 

R3 Develops Blockchain Platform With Major Banks and Stock Exchange

Blockchain software consortium R3 revealed that it is developing a blockchain platform in Brazil with banks Bradesco, Itau and B3, Cointelegraph Brazil reported on June 12. The R3 Consortium — which is composed of large banks and technology companies — announced during the CIAB Febraban event in São Paulo that it is currently collaborating with Brazilian banks. During the event, R3 executives claimed that the consortium partnered with Itau and Bradesco banks to build a blockchain-enabled platform for foreign trade and insurance. The consortium — which recently opened an office…

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Blockchain 

Three French Banks Join R3 Corda Blockchain-Based Loans Platform

British financial software firm Finastra has signed three global banks on its R3 Corda blockchain-based syndicated loans platform, the firm officially announced on May 14. France-based banking institutions BNP Paribas, Natixis, and Societe Generale have officially joined Finastra’s syndicated lending platform Fusion LenderComm, following previous pilots back in 2017. Based on blockchain consortium R3’s open source blockchain platform Corda Enterprise, Finastra’s Fusion LenderComm reportedly enables banks to instantly share credit agreements, accrual balances and position data to lenders. Cécile Bartenieff, Chief Operating Officer of Global Banking and Investor Solutions at…

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