Capital markets News

R3 Digital Markets launch targets DLT for capital markets

r3 DLT capital markets

Today enterprise blockchain firm R3 unveiled a new product suite, R3 Digital Markets, leveraging its Corda DLT for capital markets. The timing is opportune given two major capital market initiatives in Europe. The UK has launched its Digital Securities Sandbox this month. In mainland Europe, the European Central Bank is about to start trials using central bank money for DLT settlement.

Corda has already been deployed in numerous digital currency and capital markets environments. For example, it’s the foundational technology of the SIX Digital Exchange (SDX), Euroclear’s Digital Financial Market Infrastructure and the Progmat tokenization network in Japan. One of its first major deployments in banking was via Italy’s ABI Spunta project, where it continues to be used daily for interbank reconciliations by almost all Italian banks.

The new R3 offering combines several features, including digital currency, digital assets and interoperability. R3 has had a CBDC offering for some time, and acquired IVNOs bank coin and settlement offering in 2021, so these elements are part of R3 Digital Currency.

R3 Digital Assets offers a tokenization suite which supports issuance, listing, trading and custody.

A third leg is R3 Digital Connect for interoperability with legacy infrastructure and other DLT technologies. The company recently created an interoperability Hyperledger Lab Harmonia with Adhara, the development partner of the Ethereum-based settlement network Fnality.

“R3 is laser-focused on progressing capital markets infrastructure,” said R3 CEO and Founder David E. Rutter. “We’re designing long-term solutions for a seamlessly connected financial world.

Additionally, the firm announced the appointment of Kate Karimson as Chief Commercial Officer. Her resumé includes stints at CME Group and ICAP. Most recently, she held a similar role at LedgerEdge, a bond initiative backed by Rutter.