Distributed ledger technology provider R3 has launched the Corda Settler, an application aimed to facilitate global cryptocurrency payments within enterprise blockchains – and it's starting with XRP.
R3 said XRP is the first globally recognized cryptocurrency to be supported by Settler, bringing the Corda and XRP ecosystems into closer alignment – something of a rapprochement considering Ripple and R3 were previously locked in a legal dispute.
“The deployment of the Corda Settler and its support for XRP as the first settlement mechanism is an important step in showing how the powerful ecosystems cultivated by two of the of the world’s most influential crypto and blockchain communities can work together,” said Richard Gendal Brown, CTO at R3, adding:
“While the Settler will be open to all forms of crypto and traditional assets, this demonstration with XRP is the next logical step in showing how widespread acceptance and use of digital assets to transfer value and make payments can be achieved.”The Corda Settler is an open source CorDapp that allows payment obligations arising on the Corda network to be settled via any parallel rail supporting cryptocurrencies or other crypto assets, and any traditional rail capable of providing cryptographic proof of settlement.