Yesterday, the inaugural Central Banking Fintech & Regtech Awards were held at the stunning Marriot Tang Plaza Hotel. We were very proud to see R3’s Anthony Lewis in attendance to pick up the award for the Best Distributed Ledger Technology Provider.
The new awards were held to recognise innovation in financial and regulatory technologies that were changing the way central banks and supervisors work.
R3 was picked from a strong contingent of blockchain/DLT based companies that are revolutionising the financial sector due to their transformative success in the past year.
The startup is currently engaged with Bank of Canada inside ‘Project Jasper’, an initiative which sets out to develop an interbank domestic payments settlement system, already the proof of concept touted ‘significant benefits.’
In March, HQLAx and R3 completed the first live securities lending transaction on the Corda platform – between Credit Suisse and ING. The transaction showed that using blockchain could help make the securities lending process faster and more capital efficient.
Corda’s success is evident not only by the number of institutions that use the ledger but also by those looking to invest in the technology. The company has raised over $122 million from more than 40 institutions, including Bank of America Merrill Lynch, HSBC and CLS.
In July, Corda Enterprise was launched to meet the demands of modern day businesses, especially complex institutions. With the launch, companies can now select a version of Corda that fits their unique needs – regardless of their industry, size, and stage of development. This means a wider range of institutions can realise the full potential of blockchain – executing complex logic and exchange of assets directly, simply and in strict privacy, without the need for costly reconciliation or a trusted intermediary.
We are proud to see R3 be continually recognised at the forefront of blockchain development in the financial market as we see the world begin to open their eyes to the potential of this technology.