In my opinion, this is one one of the biggest pieces of news to hit the XRP community. Besides Xrapid actually going live at Swell, the announcement of R3 creating a platform know as Corda Settler that would utilize XRP was earth-shattering for 2 reasons. Not only did this announcement put an end to the Ripple/R3 lawsuit but it just doubled the number of potential users that would have the ability to use XRP.
R3 official launched its Universal Settler application that would help facilitate global payments on Corda. R3 named XRP as the first settlement mechanism to be used on Corda Settler. Corda Settler was built to ensure seamless settlement of payments on Cora across any payment scheme.
Richard Gendal Brown, Chief Technology Officer at R3 said: “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”.
Companies have the option while using Corda if they want to settle in XRP. They are not forced to but by having this option companies can now see the benefit of using a digital asset (XRP) while trying to send money.
Watch this video to get a better understanding of Corda Settler