R3 and Quant Selected to Develop Prototype for UK’s Regulated Liability Network

R3 and Quant have been chosen to create the technology prototype for the UK’s Regulated Liability Network (RLN) experimentation phase, an initiative led by UK Finance and supported by EY. This project aims to establish a unified platform facilitating various financial transactions using tokenised and traditional commercial bank deposits. The RLN will serve as a central innovation hub for digital transactions, with confirmed participants including Barclays, HSBC, Citi and Visa, among others. R3 will leverage its Corda platform for shared ledger capabilities, while Quant will enhance money interoperability through its Overledger platform.

The collaboration underscores the strategic aims of R3 and Quant in addressing the complexities of regulated financial environments through advanced ledger and API technologies. The prototype will explore multiple use cases across retail and wholesale payments, including ecommerce and bond issuance, supported by technology partners such as DXC Technology and Coadjute.