blockchain

Strategic Partnership Between R3 and Solana Foundation

Norbert Gehrke

Norbert Gehrke

— 2 min read
Strategic Partnership Between R3 and Solana Foundation

R3, which is represented in Japan through a joint venture with SBI Group, has entered into a strategic partnership with the Solana Foundation to create next-generation internet capital markets that fuse public and private blockchains.

Read also: Progmat, in collaboration with NTT DATA and SBI R3 Japan, has launched both the SaaS version of “Progmat,” a digital asset issuance and management platform, and implementation support services.

Overview

Through this partnership, R3 and the Solana Foundation will build services that natively connect Corda, R3's private blockchain for financial institutions, with Solana, a high-speed, low-fee, highly scalable L1 public blockchain. This will provide the world's first enterprise-grade permissioned consensus service on a public chain.

Corda has participation from numerous financial institutions including HSBC and Bank of America, with over $10 billion worth of tokenized Real World Assets (RWA) held on the network. By connecting Corda and Solana, these financial institutions will be able to access Solana's global public blockchain ecosystem without changing their existing systems.

Against the backdrop of growing interest from institutional investors in RWA tokenization, there is increasing demand to handle tokenized assets on public blockchains. This initiative combines Corda's strengths in identity, privacy, and compliance with Solana's openness, and is expected to accelerate the convergence of traditional finance (TradFi) and decentralized finance (DeFi), leading to dramatic expansion of the tokenized asset ecosystem.

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