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CULedger + R3 to integrate Corda Settler

r3 XRP

So this story dates back to December when CULedger first partnered with R3. At first, we didn’t know what the deal entitled or what would come from it. You can read the full article here:
CULedger Joins R3’s Global Blockchain Ecosystem
https://www.businesswire.com/news/home/20181213005404/en/CULedger-Joins-R3’s-Global-Blockchain-Ecosystem

All we knew was that R3 and CULedger joined together. This didn’t tell us much as R3 is a massive company and they do so many different things. When it comes to R3, XRP fans only care about 1 thing and 1 thing only that’s Corda Settler. We all know R3 Corda Settler can only settle with 1 digital asset and that’s XRP.

As we fast forward 5 months almost 6, we get more news on the CULedger/R3 partnership and we learn that Corda Settler will be integrated to support blockchain based cross-border payments.  CULedger is leveraging its relationship with R3 to help credit unions reduce risks associated with cybersecurity and fraud, improve the member experience, streamline internal processes and reduce administrative and operational costs. CU Pay is not intended to replace existing EFT networks, but enable connectivity of multiple payment networks.
John Ainsworth, president, and CEO of CULedger stated that:

Blockchain is positioned to transform the financial services industry over the next few years, and CULedger is helping credit unions lead the way,”By integrating R3’s Corda Settler, we are certain that our vision of financial cooperatives operating across a shared network will be realized, and that members will stand to benefit from the transparency, security and efficiency it provides”

.@CULedger Expands Partnership with @inside_R3, Integrating Corda Settler to Support Blockchain-Based Cross-Border Payments. #blockchain #creditunions https://t.co/hKrCTBd4yE

— XRP Researcher | XRP Investor (@XRPNews_) May 21, 2019


CU Pay is targeted for release in early 2020 and will be made available to credit unions on CULedger’s network.

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