A financial conglomerate from the Netherlands - a group of bankers, insurers and trust managers - agreed with the American fintech company R3 developer. ING has signed a five-year licensing contract for the use of the R3 top-end development - the Corda Enterprise blockchain platform.
Under the terms of the contract, the Dutch will receive an unlimited number of licenses to use the Corda platform. Due to this, bankers use its technology and distributed applications CorDapp for international operations. CorDapp applications cover various areas of financial services - trade support, identification, insurance, and more.
ING's top managers considered cooperation with R3, quoting: “a huge achievement on the way to integrating bank customers into a distributed economy”.
“We are one step closer to launching real solutions based on distributed registry technology for our clients, having received the necessary infrastructure,” added the Dutch bankers.
ING has previously collaborated with R3. Last month, he, together with three European banks, transferred a bill of € 100,000 using the blockchain platform Corda. Last February, ING, BNP and Commerzbank conducted a pilot test of the blockchain R3 with the financing of trade operations.