CIBC, Commerzbank, Credit Suisse, ING and UBS Test Corda for Collateral Lending

[kreslik.news]

R3, five of its member banks and financial resource management specialist HQLAX have built a collateral lending solution for liquidity transfers on R3’s Corda distributed ledger platform. CIBC, Commerzbank, Credit Suisse, ING, UBS and HQLAX collaborated with R3 to develop an operating model for a digital collateral receipt (DCR) lending marketplace.

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David E.Rutter, CEO of R3, commented: “The implementation of new bank regulations for liquidity, mandatory clearing, and margin requirements for OTC derivatives has caused a significant increase in demand for high quality liquid assets. As a result, ... (read more)