Enterprise software firm R3, together with partners Commerzbank, ING, Natixis and Rabobank, have announced the completion of a live commercial paper transaction on the Euro Debt Solution application, built on R3’s blockchain platform, Corda. This follows the previous simulated transaction on an earlier version of the solution in September 2017.
The trade saw the successful issuance of EUR 100,000 notional, with a one-day maturity. Main Incubator, the R&D unit of Commerzbank Group, provided the pilot framework, software and Distributed Ledger network for the trade as well as guidance on regulatory implications.
Michael Spitz, CEO of Commerzbank’s main incubator, comments: “Together with MEAG and KfW we successfully completed the first ECP deal via blockchain in September 2017. In the current deal, we benefited from our last years’ experience and are very pleased to contribute to the success of the blockchain ecosystem.”
Read the press release.
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