Apr 16, 2024 12:25
R3, an enterprise distributed ledger technology and servicesfirm, along with Quant, have been designated to develop the technology prototypefor the experimental phase of the UKs Regulated Liability Network (UK RLN).This initiative, spearheaded by UK Finance and supported by EY, aims toestablish a common platform for innovation across various forms of currency,including traditional bank deposits and tokenized assets.
Participants Join UK RLN for Financial Transformation
The UK RLN is a collaborative effort involving multiplestakeholders within the financial services industry, seeking to explore avenuesfor users to conduct payments, transactions, and settle liabilities in the digital market landscape. Noteworthy participants in the UK RLNinclude institutions such as Barclays, Citi, HSBC, and others,supported by advisory and technology partners like EY, Linklaters, R3, Quant,DXC Technology, and Coadjute.
R3 brings its expertise in delivering sophisticated projectsfor regulated markets, offering critical shared ledger capabilities through itsCorda platform and Digital Currency solution. Quant's role involvesfacilitating programmability and interoperability across different monetaryforms, leveraging its Overledger platform to provide orchestration and APIintegration.
Were proud to announce that together with @inside_r3 - we have been selected to produce the technology prototype for the experimentation phase of the UKs #RegulatedLiabilityNetwork, led by @UKFtweets and supported by @EYnews.#IFGS2024https://t.co/yfGvaRPVkt
Quant (@quant_network)
April 15, 2024Global Banks to Test Diverse Payment Use Case
The project will leverage the insights and experience ofmajor global banks and institutions to test various retail and wholesalepayment use cases, encompassing areas such as delivery vs payment, e-commerce,bond issuance, and card gateway integration. Additionally, the project willincorporate Coadjutes Home Purchasing Business Application, a property marketinfrastructure and settlement model built on R3s Corda platform.
We live in a digital age, in which people andcompanies expect digital finance to operate globally at speed, with bettersecurity and at scale - but our legacy payments and financial infrastructurehas not kept up. As the UK seeks a leadership position in financial markets,projects like the RLN highlight the central role that shared ledgers will playin this transition and offer a model we can extend to other markets, saidGilbert Verdian, the CEO and Founder at Quant.
This article was written by Tareq Sikder at www.financemagnates.com.
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