R3 Announces 5-Year Licensing Deal with ING Bank

The Digital Asset Investor discusses R3 and ING’s 5-year Corda agreement

According to an R3 press release on January 22, 2019; ING Bank has reached an agreement to license R3’s Corda Enterprise blockchain platform. This move will allow ING Bank to roll out access to R3’s suite of Corda Enterprise applications globally, allowing their implementation across a wide range of areas throughout the banks business.

ING Bank purchases 5-years of unlimited CordApp licenses

The five-year agreement has allowed ING to acquire an unlimited number of licenses of the Corda Enterprise platform. The banking giant is now planning to implement the Corda CorDapps across its global business infrastructure. As announced previously, R3’s Corda Settler CorDapp supports settling payments with XRP as the application’s first payment rail.

This agreement between R3 and a major bank such as ING could help further cement XRP’s place as a bridge asset to be used within the banking industry. The XRP ecosystem continues to be expanded and utilized in new ways to move and store value across the globe. The lack of regulatory clarity however has slowed adoption of XRP and other digital assets, particularly in the United States.

Note: DigitalAssetInfo.net is not a financial adviser. All information is for entertainment purposes only and does not constitute financial advice.