R3’s New App to Support XRP Payments

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda networ
06 December 2018   740

Banking blockchain consortium R3 has announced the launch of the Corda Settler application for international cryptocurrency payments in corporate distributed networks. The first supported digital asset in the application is the XRP token, CoinDesk reports.

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 of the world’s most influential crypto and blockchain communities can work together. 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.
 

Richard Gendal Brown

CTO, R3

Corda Settler is a opensource application in the CorDapp pack and makes it possible to make payments for payment obligations in the Corda network through any parallel means supporting cryptocurrency, crypto assets or traditional payment mechanisms that can provide cryptographic confirmation of the fact of settlement of transactions.

In particular, the application verifies the transfer of the expected amount to the recipient’s account, automatically updating the Corda registry. Also in the developers' plans is the addition of support for deferred netting of transactions and settlements on pre-established amounts in real time.

When a payment obligation arises in the Corda system, one of the parties may request payment in XRP tokens. The other party will receive a notification of such a request and that it must configure the payment to be sent to the specified address before a certain date. As soon as the oracle service confirms the payment, the parties may consider the obligation fulfilled.

Application support for the XRP token may seem somewhat unexpected if we recall the recent court proceedings between R3 and Ripple, but a source close to the situation claims that the disagreements did not have anything to do with it. The very launch of a new payment mechanism, he said, should give greater legitimacy to cryptocurrencies.

Coincheck OTC to List ETH & XRP

OTC-platform from Coincheck aimed at large investors, started working about two weeks ago and minimum transaction threshold is 50 BTC
15 April 2019   394

Coincheck has added support for Ethereum (ETH) and Ripple's XRP token to the recently launched over-the-counter (OTC) platform. This is reported by Cointelegraph.

In addition to ETH and XRP, the Coincheck OTC platform supports Bitcoin. The management of the marketplace plans to add other cryptoactives in the future.

OTC platforms are focused mainly on large traders who want to reduce transaction costs when working with large amounts. In particular, transactions on such platforms are carried out outside the main book of exchange orders, which sometimes allows to avoid excessive price fluctuations. In addition, at such sites, investors often have the opportunity to buy or sell an asset at a better price.

OTC-platform from Coincheck started working about two weeks ago. The minimum transaction threshold is 50 BTC.

Last year, Coincheck fell victim to a massive hacker attack, during which over $ 500 million in XEM equivalent was stolen.

Then the exchange was bought by a large online broker Monex Group Inc. The deal amounted to $ 33.6 million.