R3 consortium has announced its new application Corda Settler for the global crypto payments in corporate blockchain networks.
According to the news reports, the new solution will support XRP coin, which is quite an unexpected move from the company given the court proceedings between the consortium and Ripple company observed earlier.
Corda Settler will be an open-code application powered by CorDapp enabling users to pay for obligations in the Corda network via any parallel mechanism or traditional payment means that can prove the transaction.
The company representative stated that XRP launched as the first payment mechanism is believed to indicate that the result of the cooperation between two ecosystems run by the major communities in the crypto and blockchain industries.
In fact, the instrument will be available for all cryptos and traditional assets, though the fact of the preview with XRP is likely to become a reasonable progress in distribution and application of the digital assets for payments.
Speaking about the work of the application, the system allows users to require payment in XRP every time when a payment undertaking appears. At the same time, the second party will be notified about the inquiry. The undertaking is closed once the fulfilment of the obligations is confirmed by Oracle.