The financial giant ING Bank has concluded a 5-year agreement with the blockchain consortium R3, under which it obtained the right to an unlimited number of licenses to use the corporate platform Corda.
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– R3 (@ inside_r3) January 22, 2019
The partnership will allow the Dutch bank to begin integrating Corda distributed applications (CorDapps) into its international business operations. The latter are focused on a range of financial services, including trade finance, customer identification, insurance, and capital markets.
As noted by Anneri Freugdenhil, the head of innovation at ING, the signed agreement marks a "huge milestone" in the way of transferring bank customers to a distributed economy.
Recall that in July last year, the R3 consortium announced the launch of the Corda Enterprise platform focused on institutional clients.
In December, R3 announced the launch of the Corda Settler application for international cryptocurrency payments in corporate distributed networks.
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