R3 Corda’s Latest Settlement Layer Now Supports the XRP Token – XRP News Today

Distributed ledger company, R3 has launched Corda Settler or Corda Application. This software aims to provide everything a modern business that needs a blockchain product will require. It can operate as a translator for digital assets and fiat. It works by verifying a transaction has been received.

The Corda Settler Option is Currency Agnostic

A receiving party in transactions initiated using Corda Settler has no reason to use Corda to collect payment. The sender doesn’t need to use XRP. The elements are quite simple. The transaction must broadcast, and be verified as sent before getting confirmed as received. Meaning you could send XRP using something new to they get their funds. The notification for settlement is broadcast using a “settlement oracle.”

Ethereum (ETH) Price Today – ETH / USD

Name Price24H (%)
Ethereum (ETH)
$86.93
-3.03%

R3’s Open Makes it Easier for Others to Adopt the Technology

R3’s open nature means Ripple and others may adopt it and integrate it into their network. However, this doesn’t immediately give banks and financial firms funding R3 and contracting the enterprise product. Hence, it is safe to say Corda will be the best in coming years. Over time, more Corda networks will make integration into the Settler program.

Big Guns Still in For Crypto

Baidu, Nasdaq, Sequoia, Fidelity are among some of the largest technology conglomerates, and financial startups to make enormous bets on cryptocurrency in the past week. It appears the bear market (which has resulted in major cryptocurrencies losing up to 80 to 90% in value on average) hasn’t deterred big investors from betting on crypto.

As recently as last week, digital asset-related startups and blockchain protocols raised millions of USD from institutional investors. On December 4, the world’s second largest exchange, Nasdaq and the fourth biggest asset manager in the world Fidelity Investments, invested in ErisX a U.S based exchange.

The startup has secured $27.5 million in funding led by Fidelity Investments and Nasdaq Ventures in just less than two months after ErisX raised funds from electronic brokerage giant, TD Ameritrade, valued at $30 billion. When this took place, J.B. Mackenzie, who serves as the head of futures and foreign exchange trading with TD Ameritrade, revealed that his firm’s investment in ErisX shows its interest in creating a platform that allows retail traders and accredited investors in the U.S. market to invest in digital currencies in a compliant and protected space.

With the recently acquired capital, the CEO of ErisX Thomas Chippas said that his company would start to expand its team aggressively throughout the country to ultimately provide support to individual and institutional investors in the entire 50 U.S. states.

As for Nasdaq and Fidelity, making an investment in a growing sector like the virtual currency market, regardless of the sustainability and success of the business, is typically approached cautiously. The reason is that deals like this including the $27.5 million bet made on ErisX demonstrates that there is still confidence in the growth of the sector on the long-term.

A major investment in a digital asset business during a highly volatile period field with uncertainty as well as doubt could rekindle interest from investors into the global crypto market. The sector may still move passed this phase after all.

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