Ripple’s largest partner in Japan, SBI Holdings has announced a groundbreaking partnership with the Solana Foundation. The collaboration with R3 Corda, the world’s largest permitted enterprise blockchain platform, aims to accelerate the integration of traditional financial institutions (TRADFIs) and tokenized real-world assets (RWAs) into the Solana (SOL) blockchain.
Technically, this collaboration means that private transactions on the Corda platform can be verified directly with Solana Mainnet. This is a major milestone in the $10 billion Corda ecosystem already used by major TRADFI players such as HSBC and Bank of America. Lily Liu, president of the Solana Foundation, will also be joining the R3 Corda board of directors once the partnership is in effect.
This collaboration will primarily focus on providing Solana (SOL) as a security and validation layer for authorized blockchains used by institutions such as banks, fintechs, and payment processors. Additionally, the joint infrastructure of Solana and Corda is used by the issuers of tokenized real world assets (RWAS). The partnership between SBI Holdings and the Solana Foundation will encourage collaboration between platforms and pave the way for innovation in the financial sector.
Image: Freepik
Designed by Freepik