{"id":30376,"date":"2020-10-20T14:59:20","date_gmt":"2020-10-20T11:59:20","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=30376"},"modified":"2025-08-27T21:59:18","modified_gmt":"2025-08-27T18:59:18","slug":"r3-consortium-unveils-token-for-the-defi-sector","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/r3-consortium-unveils-token-for-the-defi-sector\/","title":{"rendered":"R3 consortium unveils token for the DeFi sector"},"content":{"rendered":"<p>Banking blockchain consortium R3 will release a digital currency in the Corda ecosystem. The token, named XDC, will be suitable for DeFi applications and for launching central-bank digital currencies, <a href=\"https:\/\/www.coindesk.com\/r3-corda-network-xdc-token-cordite-society\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">CoinDesk<\/a> reports.<\/p>\n<p><!--more--><\/p>\n<p>The issuer will be Cordite Society, a UK-registered organisation. In the initial phase, one million XDC will be issued \u2014 they will underpin the operation of applications on the Corda Network.<\/p>\n<blockquote>\n<p>&#8220;XDC is an autonomous digital currency. As a settlement token, it will be distributed evenly among Cordite Society members,&#8221; said the organisation&#8217;s CEO, Richard Kruk.<\/p>\n<\/blockquote>\n<p>According to him, Cordite operates on a DAO principle. Each network node is a legal entity possessing a special certificate. This structure guarantees that XDC complies with regulators&#8217; requirements for digital assets.<\/p>\n<blockquote>\n<p>&#8220;All services in the financial sector must address customer identification from the outset while ensuring participants&#8217; privacy,&#8221; Kruk said.<\/p>\n<\/blockquote>\n<p>Custody and OTC liquidity provision for the token will be provided by the institutional platform BCB Prime Services.<\/p>\n<p>Earlier, R3 updated its &#8220;morally outdated&#8221; bond-trading principles with LedgerEdge on Corda. The tool uses blockchain, artificial intelligence and enclave computing.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Banking blockchain consortium R3 will release a digital currency in the Corda ecosystem. The token, named XDC, will be suitable for DeFi applications and for launching central-bank digital currencies, CoinDesk reports.<\/p>\n","protected":false},"author":1,"featured_media":30377,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,208],"class_list":["post-30376","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-r3"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=30376"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30376\/revisions"}],"predecessor-version":[{"id":30378,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/30376\/revisions\/30378"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/30377"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=30376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=30376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=30376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}