Speaking at the Paris Fintech Forum on Jan. 30, CEO Gottfried Leibbrandt said SWIFT would be formally announcing its plans for a Proof-of-Concept (PoC) with R3 later today.
Leibbrandt was reportedly participating in the panel alongside Brad Garlinghouse, CEO of Ripple — which has long touted itself as a blockchain competitor to SWIFT’s global interbank network, with Garlinghouse just recently commenting that “what we are doing on a day-to-day basis is in fact taking over SWIFT.”
Having just recently launched its Corda Network, R3 has gathered over 300 partners from across multiple industries — both the private and public sector — to collaborate on developing Corda, its open-source blockchain platform, as well as its business-oriented offshoot Corda Enterprise.
Corda has seen a wave of adoption news in recent months; in December alone, R3’s Corda-based Euro Debt Solution was used by a German–French–Dutch triad of banks to successfully complete a live commercial paper transaction; major Japanese financial services company SBI Holdings announced its partnership with R3 to boost the use of Corda in Asia; and 26 French companies and five major banks completed a Know Your Customer (KYC) test using Corda.
At press time, neither R3 nor SWIFT have responded to CryptoNewspeople’s request for comment.