SBI Holdings, Ripple’s largest partner in Japan, has announced a groundbreaking partnership with the Solana Foundation. The collaboration with R3 Corda, the world’s largest permissioned enterprise blockchain platform, aims to accelerate the integration of traditional financial institutions (TradFi) and tokenized real-world assets (RWAs) onto the Solana (SOL) blockchain.
Technically, this collaboration means that private transactions on the Corda platform can be verified directly on the Solana mainnet. This marks a major milestone for the $10 billion Corda ecosystem, which is already used by major TradFi players such as HSBC and Bank of America. Lily Liu, President of the Solana Foundation, will also join the R3 Corda board of directors once the partnership is in effect.
The collaboration will primarily focus on offering Solana (SOL) as a security and verification layer for permissioned blockchains used by institutions such as banks, fintechs, and payment processors. Additionally, the joint infrastructure of Solana and Corda will be used by issuers of tokenized real-world assets (RWAs). The partnership between SBI Holdings and the Solana Foundation facilitates collaboration across platforms and paves the way for innovation in the financial sector.
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