IPC to Support R3’s Corda on its Connexus Cloud Platform
IPC, a technology and service firm focused on the global financial markets, will integrate R3’s blockchain platform Corda with its Connexus Cloud ecosystem.
IPC, a New York-based company that offers networking and communication solutions for financial markets, announced on Monday that it had partnered with blockchain software provider R3. According to the agreement, IPC will support blockchain platform Corda on the IPC Connexus platform, a cloud-based network aimed at data, voice, and corporate communications and compliance solutions. Thus, IPIC Connexus Cloud users will have access to Corda applications known as CorDapps.
Robert Coole, head of IPC’s Product Management, commented:
“The financial industry interest in blockchain has significantly increased in recent years, with the continuous growth of investment to support this emerging technology.”
“IPC has been evaluating how blockchain technologies can be utilized, to the benefit of IPC customers and view R3 and the Corda platform, as one of the key drivers for customer adoption of new blockchain-enabled applications in capital markets.”
Connexus Cloud enables companies to trade faster, scale their business, and become more efficient and agile. The network includes sell-side and buy-side companies, inter-dealer brokers, energy companies, liquidity venues, and market data and clearing/settlement firms, which, in total, comprise over 6,600 financial market participants across 60 countries in all regions around the world. Connexus relies on a closed community model that is ideal for distributed ledger technology (DLT) initiatives. By integrating with R3’s Corda, IPC clients can implement Corda apps in any private, public or hybrid cloud platform.
R3 CEO David E. Rutter stated:
“Built to meet the high standards of the financial services industry, the widespread adoption of Corda in capital markets is testament to our goal of helping enable a fully integrated, efficient and transparent marketplace for liquidity exchange.”
R3 is a New York-based DLT provider. The company also leads a blockchain-oriented consortium that includes more than 200 firms, including Barclays, Citibank, Accenture, BBVA, AlphaPoint, BNP Paribas, Credit Suisse, Danske Bank, SBI, Standard Chartered, Huawei, and more. R3 updated its Corda platform in October of last year.