ING completes live commercial paper transaction within R3 consortium
Enterprise software firm R3, together with partners Commerzbank, ING, Natixis, Rabobank, and RCI, successfully completed a live commercial paper transaction on the Euro Debt Solution application, built on R3’s blockchain platform, Corda.
Marnix Bruning, head of money market & central bank sales at ING, comments: "This live trade lays the foundation for dealing ECP more efficiently and cost effectively. It also marks the start of building an improved DLT platform that enables direct settlement and reduces operational risk and costs at the same time. At ING we look forward to our continued collaboration in taking this solution to the next phase."