R3 Acquires Stablecoin Issuance Firm Ivno Software
R3 has acquired the technology and team from Ivno, enabling the use of Ivno-developed capabilities across the Corda platform.
Ivno’s smart contract and tokenization platform is designed for regulated financial services firms. It enables users to tokenize assets such as gold, cash, collateral and artwork.
Aaron Grantham, CEO of Ivno, said: “Customers will be able to take advantage of Ivno’s innovative tokenization software capabilities with the benefits offered by a true enterprise framework provided by R3. I am convinced this will allow rapid adoption of new business solutions using DLT-led technology paradigms.”
Todd McDonald, Chief Product Officer of R3, said: “Digital cash and tokenized liquid assets represent one of the biggest innovations in financial markets. The underlying technology provides an opportunity to significantly optimize the cost and speed of financial transactions. The acquisition of Ivno’s high-quality software built on Corda significantly accelerates R3’s ability to offer enterprise-grade and regulatory-friendly stablecoin issuance capabilities to our customers. As the first step, Ivno’s capabilities will be integrated with the R3 Sandbox for Digital Currencies.”