R3, the distributed database technology company and leader of a consortium of more than 200 firms in research and development of distributed ledger usage in the financial system, has announced the addition of CULedger to the enterprise software firm.
The Denver-based credit union-owned CUSO focuses on delivering innovative applications to credit unions through its cross-border global distributed ledger platform. CULedger, a consortium of credit union, provides advantages to credit unions and their members by reducing risks associated with cybersecurity and fraud, improving member experience, streamlining internal processes and reducing administrative and operational costs.
As it rolls out the pilot program of the first self-sovereign identification methods for credit union members, its flagship product MyCUID, CULedger may benefit from entering the R3’s global network of more than 200 financial services firms, technology companies, central banks, regulators, and trade associations working together on Corda.
