Instimatch Global, a firm set to digitise the institutional unsecured money lending market has unveiled a DApp coupled with the R3 Settler/XRP. The DApp’s trading interface makes inter-bank trading in Intraday markets possible.
The DApp has been integrated with the latest settlement API (R3 Settler/XRP). The integration affords the DApp of high speed of payments required in intraday trades.
“Our money market offering in R3 Corda is a highly secure, GDPR compliant DApp allowing Banks, Family offices, Corporations, Utilities etc. to exchange liquidity amongst each other,” the firm says.
This DApp is a “modern alternative” to the popular voice broking.
It replaces Instimatch’s widely used and centralized database version that has presently “a volume of over 1 Billion USD equivalent and 50 Banks are on-boarded”.
Hear me at "Global Fintech Conference🇮🇳" 23rd Feb 10-10.30 AM Delhi University to know how with @Cordablockchain & @Ripple we solutioned Money Market Intranet 1st time globally for @Instimatch Swiz #Fintech & on-boarded 50+banks#Blockchainnews #Blockchainhttps://t.co/TxnofwfTi0 pic.twitter.com/VX2nMDPYWu
— Debajani Mohanty (@debimr75) February 17, 2019
Instimatch aims to deliver an alternative that offers better access to markets and pricing across the world.
The cloud-based platform links lenders and borrowers digitally by providing state of the art access and pricing with the opportunity to expand counterparty risk.
Instimatch hopes to have over 100 counterparties from different sectors trading across regions in 12 months.
SBI Bullish On Ripple’s XRP
Japanese Financial giant SBI and blockchain firm Ripple have been bullish about digital asset XRP by affirming that in 2019, XRP’s digital market will outnumber Bitcoin (BTC)’s
As contained in an article by Coinpost.jp, the President and Representative Director of SBI Holdings, Yoshitaka Kitao pointed that XRP will become a global currency in the nearest future.
“Because XRP is already beginning to become international, xRapid will be used for fund transfers in 2019. By increasing the so-called XRP’s plastic use, we anticipate that the [Ripple] market capitalization will easily exceed the market capitalization of Bitcoin (BTC).”
Not long, Kitao announced the launch of SBI R3 Japan. The consortium and some other moves have showed that SBI is an unrelenting supporter of Ripple’s XRP. One, R3’s Corda Settler platform is utilizing XRP for international remittances.
Kitao also affirmed the awesomeness of XRP on Corda settler, stating that the settler and the digital asset have “high affinity”.
“You can use R3’s ‘Corda’ for international remittance, but Corda Settler and XRP use this because they have high affinity. That’s why the SWIFT partnership with R3 (Corda) is good news that brings bright materials to the market… What I emphasize is to combine R3 and Ripple to make XRP thoroughly practical useable.”