The Corda Settler App is currently accepting XRP payments. The blockchain technology provider R3 decided to launch this application. Corda Settler aims to facilitate global cryptocurrency payments among enterprise blockchains.
Corda Settler App Accepts XRP Payments
A new application is currently accepting XRP payments. Corda Settler is now bringing the XRP and Corda ecosystems closer to each other. This shows that XRP continues to grow amid a bear market that has affected most virtual currencies in the market.
On the matter, Richar Gendal Brown, CTO at R3, commented about it:
“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 world’s most influential crypto and blockchain communities can work together.”
Corda Settler allows payment obligations on the Corda network to be settled using any parallel rail supporting cryptocurrencies. It also can settle these payment obligations using any traditional rail capable of providing cryptographic proof of settlement.
This application will also be verifying whether the accounts were credited with the payment. Once it checks this information it will automatically be updating the information on the Corda ledger. In the future, the Settler will also be supporting domestic deferred net settlement and other payments.
“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,” commented Richard Gendal Brown.
R3 is an enterprise blockchain software firm that works with more than 200 members and partners all over the world. They have also developed Corda working with a team of 180 professional in 13 countries. The Corda platform is currently used in various industries such as the financial, the health care or shipping sectors.
Corda has also taken some steps to build its ecosystem and bridges between the private enterprise blockchain world and the public domain. This can be seen in the tokenization fo assets that were added earlier this year with Cordite.
XRP is the second largest virtual currency exchange in the market after Bitcoin. It has a market capitalization of $13.68 and each XRP can be purchased for $0.339.
