ING Bank has signed a major five-year deal with enterprise software firm R3, entitling the bank to an unlimited number of licenses for R3’s commercial blockchain platform, Corda Enterprise. The deal will allow ING to roll out access to Corda Enterprise throughout the bank globally and deploy production-ready CorDapps across a wide range of business areas.
CorDapps in production on Corda Enterprise cover a wide range of financial services activity including trade finance, identity, insurance and capital markets. Through this deal, ING will be able to adopt CorDapps across business areas within ING, enabling the wider adoption of Corda Enterprise.
Annerie Vreugdenhil, head of Innovation for wholesale banking at ING, said in a statement: “We are one step closer to deploying live DLT solutions for our clients with the supported infrastructure in place.”