Banks Test DLT Proof-of-Concept for Euro Commercial Paper

Four R3 member banks have built a prototype solution for the issuance of euro commercial paper on the Corda platform.

The DLT proof-of-concept is designed to ultimately lead to the development and productization of a platform supporting the issuance and processing of euro commercial paper.

The proof-of-concept started in 2016 when the four member banks put together an initial business case and operating model developed expressly for the sell side for a distributed-ledger technology (DLT) platform that required no additional software development. 

According to R3, the project entered a second stage driven by the banks’ demands, and, as R3’s project lead, Nick Short, explains, the difference was that this time the software was built “to prove the potential benefits of using DLT in

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