Enterprise blockchain software firm R3 is letting bygones be bygones after settling a lawsuit with Ripple over its XRP (XRP) coin. R3 announced XRP will be the first cryptocurrency supported on its new universal payment settlement platform.
Finextra reported Corda Settler is an open-source dapp (decentralized application) that allows payment obligations on the Corda Network to be settled via any parallel rail supporting cryptocurrencies or other crypto assets, and any traditional rail capable of providing cryptographic proof of settlement. A rail is a payment platform or network that transfers money from a payer to a payee.
The app will reportedly verify the beneficiary’s account was credited with the expected payment, automatically updating the Corda ledger.
In September Ripple and R3 settled a year-long dispute involving the distribution of XRP and the price R3 would pay for it – the original agreed-upon price or a higher price after the currency rose in value. The two said in their settlement they had put their issues behind them.