FinFabrik uses R3 Corda Blockchain for settlement of digital assets

FinFabrik is a capital markets fintech incorporated in Hong Kong and Shenzhen.  It partners with institutions in private markets primarily in Asia to grow new digital asset channels powered by distributed technology on its CrossPool platform. The aim of CrossPool is ultimately to connect assets and capital by enabling private markets participants to develop standardised digital assets and workflows. Institutions handle the whole lifecycle on the platform: issuance, listing, trading permissions, KYC, transactions, payments, dividends etc.

FinFabrik is now using  Corda Enterprise, the distribution of R3’s Corda blockchain platform designed for large-scale enterprise use, to specifically handle the management transactions and settlement of digital assets at scale on CrossPool with full control of data privacy and security by its clients. Alex Medana, co-founder & CEO, FinFabrik, states, “Joining the community of Corda Enterprise feels like we have finally graduated to the ‘Blockchain Premier League’. Corda has been built by and for the finance industry, particularly capital markets where we come from. It is an important milestone for us at FinFabrik, as we give our clients a turnkey solution to grow their digital channels that is scalable, secure and in line with their demands on data privacy. On top of its simplicity, an important factor for choosing Corda is the legal prose that we have been able to bake in on CrossPool: contracts can be read by humans and machines; they are lawful, enforceable and once written on a blockchain they become irreversible, tamper-proof, immutable. We now have the same technological baseline as major and well known financial institutions.”

‍Cathy Minter, Chief Revenue Officer, R3, added, “The issuance and exchange of digital assets through blockchain technology has the potential to transform the face of institutional capital markets over the coming years. The trading of digital assets within a regulated environment is one of the areas of blockchain development we are most excited by at R3, so we are very proud to see innovative firms like FinFabrik making a home within the Corda ecosystem. FinFabrik will now be able to leverage Corda’s unique scalability and privacy to offer their customers the most secure and transparent platform for their digital asset.”