R3 Builds Stablecoin Capabilities with Invo Acquisition
Posted by Colin Lambert. Last updated: October 12, 2021
R3 has acquired the technology and team of the financial asset tokenisation specialist Ivno, enabling the use of Ivno-developed capabilities across R3’s Corda platform. R3 says the deal further strengthens its capabilities in the digital assets and currency space.
Ivno’s secure, dynamic smart contract and tokenisation platform is designed for regulated financial services firms and enables users to tokenise assets such as gold, cash, collateral and artwork, providing a modern way to increase liquidity, improve security and enable the rapid and low-cost transfer of assets.
The solution was developed to comply with regulatory requirements, and its design delivers atomic transactions on a 24/7 basis, meaning settlement failures, delays and related infrastructure issues are consigned to history, R3 says.
The firm adds that integrating Ivno’s capabilities will allow R3’s customers to optimise balance sheet management through tokenisation of underlying assets while benefitting from the performance and security of Corda. It will also enhance the capabilities of the R3 Sandbox for Digital Currencies, allowing customers to experiment with tokenisation of digital assets and explore various emerging stablecoin models before moving to the production-ready solution.
“Customers will be able to take advantage of Ivno’s innovative tokenisation software capabilities with the benefits offered by a true enterprise framework provided by R3,” says Aaron Grantham, CEO of Ivno. “I am convinced this will allow rapid adoption of new business solutions using DLT-led technology paradigms.”
Todd McDonald, chief product officer of R3,adds, “Digital cash and tokenised liquid assets represent one of the biggest innovations in financial markets. The underlying technology provides an opportunity to significantly optimize the cost and speed of financial transactions. The acquisition of Ivno’s high-quality software built on Corda significantly accelerates R3’s ability to offer enterprise-grade and regulatory-friendly stablecoin issuance capabilities to our customers. As the first step, Ivno’s capabilities will be integrated with R3’s Digital Currency Sandbox.”