R3 has announced that the R3 Foundation plans to launch the Corda Protocol, a native Web3 protocol on the Solana blockchain. The protocol aims to enable asset managers to launch tokenized real world asset (RWA) offerings on-chain.
The news follows the summer announcement of an integration between R3’s Corda enterprise blockchain and Solana. Shortly afterward, R3 formed R3 Labs to bring institutional assets onto public blockchains and created the R3 Foundation.
Under the Corda Protocol, investors will deposit stablecoins or other digital assets in exchange for liquid vault tokens, which can be used in on-chain borrowing and looping, the DeFi term for iterative leverage. During the Solana BreakPoint event in Abu Dhabi, R3 Labs CEO Richard Brown likened these on-chain vaults used to earn yield to traditional asset managers curating mutual funds.
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