Financial giant ING Bank entered into a 5-year agreement with the blockchain-a consortium of R3, in which received the right to unlimited number of licenses for the use of corporate platforms Corda.

Check out our new press release! @ING_news has agreed to five-year deal with R3 for an unlimited number of Corda Enterprise licenses which will encourage adoption of CorDapps across a range of business functions. Read more here- #blockchain #cordaenterprise

— R3 (@inside_r3) January 22, 2019

The partnership will allow the Dutch Bank to begin to integrate their international business operations ready-to-use distributed applications Corda (CorDapps). The latter focused on a range of financial services including trade financing, customer identification, insurance and capital markets.

As noted Anneri Vreugdenhil, head of innovation at ING, the agreement marks “a huge milestone” on the path of transfer of the Bank’s customers to a distributed economy.

Recall that in July last year, a consortium of R3 announced the launch focused on institutional clients platform Corda Enterprise.

In December R3 announced the launch of the app Corda Settler for the international cryptocurrency payments in corporate distributed networks.

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