DLT provider R3 has updated its flagship platform Corda to deliver better availability, scalability and secure interoperability with other enterprise DLT platforms

The new software version will help infrastructure providers and central banks create interoperable applications across other open enterprise DLT networks.

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In addition, R3 has partnered with Adhara, launching Harmonia, a Hyperledger lab. Harmonia will help accelerate the development of interoperability protocols for regulated financial institutions.

Co-founder and Chief Strategy Officer Todd McDonald commented: “As a trusted partner to global financial market participants, we are committed to enabling an open, trusted and enduring digital economy – and the next generation of Corda is the next step in delivering on this mission.

“We believe this economy will be built upon an interconnected ecosystem of multiple DLT platforms, where apps will transact seamlessly and securely across networks – not isolated or walled gardens of ‘public’ or ‘private’ networks”, McDonald said. “We are already seeing demand for Corda’s enhanced capabilities from central banks exploring CBDCs for cross-border payments and wholesale settlement.”

In May, R3 teamed up with Temenos, whereby the latter integrated its banking platform with the multiple DLT-based Central Bank Digital Currency (CBDC) technology stacks.

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The integration took place through R3’s Corda platform – currently used in many Central Bank and BIS CBDC projects, among them DTCC, Euroclear, the Central Bank of UAE, SIX Digital Exchange (SDX) and Spunta Banca DLT.

“The need for interoperability between DLT networks is well-known throughout the industry. Enabling diverse ecosystems to connect and innovate avoids vendor lock-in and helps overcome the siloed infrastructures that regulated markets are forced to rely on today,” continued Richard Gendal Brown, chief technology officer at R3. “Our collaboration with Hyperledger Foundation is testament to the belief that open industry collaboration across the distributed ecosystem is critical to reimagine the current standards surrounding the movement of digital assets and currencies across chains.”