R3 Adds Ripple as First Crypto for Its Universal Payments DApp

Enterprise blockchain software firm R3 has announced that ‘rival’ Ripple’s XRP token will be the first crypto supported on its new universal payment settlement platform, Finextra reports today, Dec. 5.

Dubbed “Corda Settler,” the new open source Corda-based decentralized application (CorDapp) reportedly allows payment obligations raised on the Corda blockchain to be settled via any parallel payment rail that supports cryptocurrencies or assets, or any ‘traditional’ payment rail that can provide “cryptographic proof of settlement.” A payment rail is a term for a payment platform or network that transfers money from one entity (a payer) to another (a payee).

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