Quant Network, an enterprise blockchain tech firm, and SIA, European payment services business and a subsidiary of CDP Equity, have successfully tested cross-blockchain interoperability between multiple Distributed Ledger Technology (DLT) protocols, according to a company release.
The test integrated the Quant Network’s Overledger technology into the SIAchain private blockchain infrastructure.
The integration is said to provide the ability to bridge permissioned blockchain instances between SIAchain and other external networks – which could not be previously connected. The goal is to facilitate cross-platform applications and services like notarization, payments, and KYC.
The testing has been executed on SIAchain, R3 Corda, and private Ethereum platforms.
The partnership launched between Quant Network and SIA seeks to assist mostly banks and financial institutions, improve operational efficiencies, and deliver innovation to banking customers.
“The partnership between Quant Network and SIA has been extremely positive and productive from the very start,” said Gilbert Verdian, CEO, Quant Network, “and both companies are confident that this development will play an integral part in building the financial infrastructure of the future globally.”