Banking users of SIA's private blockchain infrastructure will be able to link up with other distributed ledgers following successful testing of interoperability via Quant Network's Overledger technology.
This integration provides the ability to bridge permissioned blockchain instances between SIAchain's 580 European network nodes and other external networks - which could not be previously connected - in order to have crossplatform applications and services covering the likes of notarisation, payments and KYC.
Initiated in mid-2019, the collaboration has involved a full program of testing across SIAchain, R3 Corda and private Ethereum platforms.
Daniele Savarè, innovation & business solutions director SIA, says: “The achievement of a fully interoperable blockchain network, through our collaboration with Quant Network, is another key-element in our path of bringing innovation and state-of-the-art technologies for supporting banks, financial institutions, corporates and public administration bodies to extend their capabilities in integrating different DLT business applications."
SIA - a subsidiary of CDP Equity - is European leader in the design, creation and management of technology infrastructures and services for Financial Institutions, Central Banks, Corporates and the Public Sector, in the areas of Card & Merchant Solutions, Digital Payment Solutions and Capital Market & Network Solutions. SIA Group provides its services in 50 countries, and also operates through its subsidiaries in Austria, Czech Republic, Croatia, Germany, Greece, Hungary, Romania, Serbia, Slovakia, and South Africa. The company also has branches in Belgium and the Netherlands and representation offices in the UK and Poland. For more information: www.sia.eu/en
Quant Network is a technology provider, delivering enterprise-grade interoperability for the secure exchange of information and digital assets across any network, platform or protocol, at scale. Quant’s Overledger, the world’s first DLT operating system, complements and connects existing systems and DLTs, to drive innovative and efficient growth for companies, public entities, and regulatory bodies alike. Headquartered in London, UK, Quant is recognised as a Gartner Cool Vendor 2019 and is committed to unleashing the power of systems that are as connected as the world we live in.