Digital Securities Exchange Archax To Use R3’s Corda Enterprise Blockchain Platform

Blockchain, News | October 21, 2019 By:

London-based institutional digital securities exchange Archax has selected R3’s Corda Enterprise blockchain platform to handle post-trade activities on a distributed ledger.

Founded by experts from the regulated financial markets world, Archax claims to offer a credible bridge between the new blockchain-centric crypto community and the traditional investment space. The Archax platform is designed specifically for professional investors to trade in security tokens, and is built using existing, proven, resilient, scalable, high-performance exchange infrastructure, hosted in top-tier data center space, and integrated into existing institutional trading workflow.

Based in New York, R3 is an enterprise blockchain software firm working with a broad ecosystem of more than 300 members and partners across multiple industries from both the private and public sectors to develop on Corda, its open-source blockchain platform, and Corda Enterprise, a commercial version of Corda for enterprise usage.

In a press release, Archax said that it will use R3’s Corda technology to build its post-trade infrastructure to reduce friction in the post-trade process. Under this partnership, Archax will use a private version of Corda Enterprise within its own ecosystem to handle post-trade activities.

“Our existing systems and partnerships with firms like Aquis, provide the core functionality for our exchange,” said Graham Rodford, CEO of Archax. “R3, with its Corda product, provides the final piece of the puzzle on which we can build a truly revolutionary post-trade solution. Although Archax is blockchain agnostic for digital security issuances, we needed an institutional-grade system for our own post-trade use. R3’s permissioned blockchain solution is already used by leading blue-chip organisations so fits the bill perfectly. This partnership will deliver the blockchain efficiency gains for financial markets that are so often talked about, and we believe will be the first of its kind.”

Cathy Minter, CRO of R3, said that representing assets as tokens on a blockchain platform is one of the most impactful applications of the technology and a key focus for R3, too.

“Archax, with its experienced team and base in London, is building one of the most credible venues for these tokens and will play a key role in driving institutional adoption,” Minter said. “As such, our Corda Enterprise platform is ideally-suited for this project, and we look forward to working together to disrupt and revolutionise how financial markets operate.”