R3 to unveil real-time payments prototype
The aim is to improve the speed and efficiency of global transactions
Software firm R3 plans to release a real-time international payments prototype by the end of this year, which will handle the full transaction workflow on a shared infrastructure. It aims to bring efficiency and cost benefits for conducting cross-border payments.
The solution was built with the co-operation of 22 of R3’s member banks and will be hosted on Corda, the firm’s digital ledger technology platform, through which banks can transact smart contracts directly in a secure environment.
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